Tex. Spec. Dist. Local Laws Code Section 1018.161
General Authority to Borrow Money; Security

(a)

The board may borrow money at a rate not to exceed the maximum annual percentage rate allowed by law for district obligations at the time the loan is made.

(b)

To secure a loan, the board may pledge:

(1)

district revenue that is not pledged to pay the district’s bonded indebtedness;

(2)

a district tax to be imposed by the district during the 12-month period following the date of the pledge that is not pledged to pay the principal of or interest on district bonds; or

(3)

district bonds that have been authorized but not sold.

(c)

A loan for which taxes or bonds are pledged must mature not later than the first anniversary of the date the loan is made. A loan for which district revenue is pledged must mature not later than the fifth anniversary of the date the loan is made.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 378 (S.B. 310), Sec. 3, eff. June 17, 2011.

Source: Section 1018.161 — General Authority to Borrow Money; Security, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1018.­htm#1018.­161 (accessed Feb. 26, 2025).

1018.001
Definitions 1018.002
Authority for Operation 1018.003
Essential Public Function 1018.004
District Territory 1018.005
District Support and Maintenance Not State Obligation 1018.006
Restriction on State Financial Assistance 1018.051
Board Appointment 1018.052
Qualifications for Office 1018.053
Bond 1018.054
Board Vacancy 1018.055
Officers 1018.056
Compensation 1018.057
Voting Requirement 1018.058
District Administrator 1018.059
General Duties of District Administrator 1018.060
Attorney 1018.061
Employees 1018.062
Recruitment of Medical Staff and Employees 1018.063
Health Care Educational Programs 1018.064
Liability Insurance 1018.101
District Responsibility 1018.102
Restriction on Political Subdivision Taxation and Debt 1018.103
Management, Control, and Administration 1018.104
Hospital System 1018.105
Rules 1018.106
Purchasing and Accounting Procedures 1018.107
District Property, Facilities, and Equipment 1018.108
Assisted Living Facility 1018.109
Eminent Domain 1018.110
Cost of Relocating or Altering Property 1018.111
Gifts and Endowments 1018.112
Construction Contracts 1018.113
Operating and Management Contracts 1018.114
Contracts for Medical and Hospital Care 1018.115
Contracts with Governmental Entities for Care and Treatment 1018.116
Contracts with Governmental Entities for Investigatory or Other Services 1018.117
Joint Administration or Delivery of Health Care Services 1018.118
Payment for Treatment 1018.119
Nonprofit Corporation 1018.120
Authority to Sue and Be Sued 1018.151
Budget 1018.152
Notice 1018.153
Amendments to Budget 1018.154
Restriction on Expenditures 1018.155
Fiscal Year 1018.156
Annual Audit 1018.157
Inspection of Annual Audit and District Records 1018.158
Financial Report 1018.159
Depository 1018.160
Spending and Investment Restrictions 1018.161
General Authority to Borrow Money 1018.201
General Obligation Bonds 1018.202
Tax to Pay General Obligation Bonds 1018.203
General Obligation Bond Election 1018.204
Maturity of General Obligation Bonds 1018.205
Execution of General Obligation Bonds 1018.206
Revenue Bonds 1018.207
Refunding Bonds 1018.208
Bonds Exempt from Taxation 1018.209
Additional Means of Securing Repayment of Bonds 1018.210
Use of Bond Proceeds 1018.251
Imposition of Ad Valorem Tax 1018.252
Tax Rate 1018.253
Assessment and Collection by County Tax Assessor-collector 1018.254
Assessment and Collection by District Assessor-collector 1018.301
Dissolution 1018.302
Notice of Election 1018.303
Ballot 1018.304
Election Results 1018.305
Transfer of Administration of Assets 1018.306
Imposition of Tax and Return of Surplus Taxes 1018.307
Report 1018.0615
Employment of Physicians
Green check means up to date. Up to date

Accessed:
Feb. 26, 2025

§ 1018.161’s source at texas​.gov