Tex.
Spec. Dist. Local Laws Code Section 1002.306
Revenue Bonds
(a)
The board may issue revenue bonds to:(1)
purchase, construct, repair, renovate, or acquire buildings, sites, or improvements and equip buildings, sites, or improvements for hospitals and the hospital system; and(2)
establish and maintain office facilities for staff physicians under Section 1002.058 (Office Facilities).(b)
The bonds must be payable from and secured by a pledge of all or part of the revenues derived from the operation of the district’s hospital system, including district facilities.(c)
Bonds issued under Subsection (a)(1) may be additionally secured by a mortgage or deed of trust lien on all or part of the district property.(d)
Bonds issued under Subsection (a)(1) must be issued in the manner provided by Sections 264.042 (Form and Procedure), 264.043 (Terms), 264.046 (Junior Lien Bonds; Parity Bonds), 264.047 (Bond Proceeds; Investment of Funds), 264.048 (Refunding Bonds), and 264.049 (Approval and Registration of Bonds), Health and Safety Code.(e)
Bonds issued under Subsection (a)(2) must be issued in the manner provided by Sections 264.042-264.047(a), 264.048 (Refunding Bonds), and 264.049 (Approval and Registration of Bonds), Health and Safety Code.
Source:
Section 1002.306 — Revenue Bonds, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1002.htm#1002.306 (accessed Jun. 5, 2024).
