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Texas Special District Local Laws Code

§ 1045.161 — AUTHORITY TO BORROW MONEY; SECURITY

SD § 1045.161Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1045. HUTCHINSON COUNTY HOSPITAL DISTRICT · Art. D. GENERAL FINANCIAL PROVISIONS

Statute text

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(a)The board may borrow money for district operating expenses in an amount not to exceed the amount of tax or other revenue the district expects to receive during the fiscal year in which the money is borrowed.
(b)To repay the debt, the board may pledge all or part of the tax or other revenue received during the fiscal year in which the board borrows money under this section.

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 § 1045.161 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.