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Texas Special District Local Laws Code

§ 1063.206 — REVENUE BONDS

SD § 1063.206Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1063. MONTGOMERY COUNTY HOSPITAL DISTRICT · Art. E. BONDS

Statute text

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(a)The district may issue revenue bonds or certificates of obligation or may incur or assume any other debt only if authorized by a majority of the district voters voting in an election held for that purpose. This subsection does not apply to refunding bonds or other debt incurred solely to refinance an outstanding debt.
(b)The board may issue revenue bonds to:
(1)purchase, construct, acquire, repair, renovate, or equip buildings or improvements for health care or hospital purposes; or
(2)acquire sites to be used for health care or hospital purposes.
(c)The bonds must be payable from and secured by a pledge of all or part of the revenue derived from the operation of the district's hospital or health care facilities.
(d)The bonds may be additionally secured by a mortgage or deed of trust lien on all or part of district property.
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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 § 1063.206 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.