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Texas Special District Local Laws Code

§ 1014.205 — REVENUE OR SPECIAL OBLIGATION BONDS

SD § 1014.205Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1014. COLLINGSWORTH COUNTY HOSPITAL DISTRICT · Art. E. BONDS

Statute text

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(a)The board may issue and sell revenue or special obligation bonds for the purposes provided by Section 1014.201.
(b)Special obligation bonds must be payable from the revenue of the district's entire hospital system, including that portion originally acquired and all past or future extensions, additions, or replacements, excluding taxes, after deducting the cost of maintaining and operating the system. For purposes of this subsection, the cost of maintaining and operating the system:
(1)may include only the items set forth and defined in the resolution authorizing the bond issuance; and
(2)may not include the cost of providing medical or hospital care for the district's needy inhabitants.
(c)A cost described by Subsection (b)(2) is a maintenance and operating expense for budget and tax purposes.
(d)The district may issue revenue bonds without an election.
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Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Texas Special District Local Laws Code § 1014.205 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.