Texas Health and Safety Code

§ 221.066 — SOURCE OF PAYMENT; BONDS NOT GENERAL OBLIGATION

HS § 221.066Title 4. HEALTH FACILITIES · Part A. FINANCING, CONSTRUCTING, REGULATING, AND INSPECTING · Ch. 221. HEALTH FACILITIES DEVELOPMENT ACT · Art. C. BONDS

Statute text

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(a)The principal of, interest on, and any redemption penalty on bonds issued under this chapter are payable solely from, and may be secured by a pledge of all or part of, one or more of the following:

(1)the bond proceeds;

(2)revenue derived from the lease or sale of a health facility or from a loan made by a development corporation to finance or refinance all or part of a health facility;

(3)revenue derived from the operation of a health facility; or

(4)other revenue provided by a user of a health facility.

(b)The bonds are not an obligation or a pledge of the faith and credit of the state, a sponsoring entity, or other political subdivision or agency of the state.

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Legislative history

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