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Texas Special District Local Laws Code

§ 1069.212 — AUTHORITY TO BORROW MONEY

SD § 1069.212Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1069. NACOGDOCHES COUNTY HOSPITAL DISTRICT · Art. E. GENERAL FINANCIAL PROVISIONS

Statute text

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(a)Pending receipt of accounts receivable, the board may borrow money for the payment of maintenance and operating expenses of the district.
(b)A loan obtained by the district under this section must be repaid not later than one year after the date on which the loan is made.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.

Source: Texas Special District Local Laws Code § 1069.212 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.