DecisionDepot
California legal research

Texas Special District Local Laws Code

§ 1061.205 — PAYMENT OF REVENUE BONDS; SECURITY

SD § 1061.205Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1061. MIDLAND COUNTY HOSPITAL DISTRICT OF · Art. E. BONDS

Statute text

View on source
(a)Revenue bonds issued under Section 1061.204 must be payable from and secured by liens on and pledges of all or any part of the revenue and income, other than ad valorem taxes, derived by the district from the operation of district facilities, the ownership of district facilities, or both. The board may pledge to the payment of revenue bonds all or any part of a grant, donation, or income received or to be received from the United States or any other public or private source under an agreement or otherwise.
(b)The bonds may be additionally secured by a mortgage or deed of trust on any real property on which a district hospital facility is or will be located and any real or personal property incident or appurtenant to the facility. The board may authorize the execution and delivery of a trust indenture, mortgage, deed of trust, or other form of encumbrance to evidence the security interest.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

Source: Texas Special District Local Laws Code § 1061.205 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.