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Texas Health and Safety Code

§ 221.011 — AUTHORITY TO CREATE

HS § 221.011Title 4. HEALTH FACILITIES · Part A. FINANCING, CONSTRUCTING, REGULATING, AND INSPECTING · Ch. 221. HEALTH FACILITIES DEVELOPMENT ACT · Art. B. CREATION AND OPERATION OF DEVELOPMENT CORPORATION

Statute text

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(a)A sponsoring entity may create one or more nonmember, nonstock development corporations for the sole public purpose of acquiring, constructing, providing, improving, financing, and refinancing a health facility to assist the maintenance of public health.
(b)The sponsoring entity may use the development corporation to:
(1)provide a health facility to promote and develop health care, research, and education for the public purpose of promoting the health and welfare of state citizens; and
(2)issue bonds on the sponsoring entity's behalf to finance the cost of the health facility.
(c)The sponsoring entity may not lend its credit or grant public money or other thing of value in aid of a development corporation.

Legislative history

Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.

Source: Texas Health and Safety Code § 221.011 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.