Tex. Spec. Dist. Local Laws Code Section 1052.160
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 in the next 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)

a district bond that has 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 2009, 81st Leg., R.S., Ch. 1074 (H.B. 4745), Sec. 5, eff. June 19, 2009.

Source: Section 1052.160 — General Authority to Borrow Money; Security, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1052.­htm#1052.­160 (accessed Jun. 5, 2024).

1052.001
Definitions 1052.002
Authority for Creation 1052.003
Essential Public Function 1052.004
District Territory 1052.005
Correction of Invalid Procedures 1052.006
District Support and Maintenance Not State Obligation 1052.051
Board Election 1052.052
Notice of Election 1052.054
Qualifications for Office 1052.055
Board Vacancy 1052.056
Officers 1052.057
Compensation 1052.058
District Administrator 1052.059
General Duties of District Administrator 1052.060
Employees 1052.061
Recruitment of Medical Staff and Employees 1052.101
District Responsibility 1052.102
Restriction on Political Subdivision Taxation and Debt 1052.103
Management, Control, and Administration 1052.104
Hospital System 1052.105
Rules 1052.106
Purchasing and Accounting Procedures 1052.107
District Property, Facilities, and Equipment 1052.108
Eminent Domain 1052.109
Gifts and Endowments 1052.110
Construction Contracts 1052.111
Operating and Management Contracts 1052.112
Contracts with Governmental Entities for Care and Treatment 1052.113
Contracts with Governmental Entities for Investigatory or Other Services 1052.114
Payment for Treatment 1052.115
Authority to Sue and Be Sued 1052.151
Budget 1052.152
Notice 1052.153
Amendments to Budget 1052.154
Fiscal Year 1052.155
Audit 1052.156
Inspection of Audit and District Records 1052.157
Financial Report 1052.158
Depository 1052.159
Spending and Investment Restrictions 1052.160
General Authority to Borrow Money 1052.201
General Obligation Bonds 1052.202
Tax to Pay General Obligation Bonds 1052.203
General Obligation Bond Election 1052.204
Revenue Bonds 1052.205
Refunding Bonds 1052.206
Maturity of Bonds 1052.207
Execution of Bonds 1052.208
Bonds Exempt from Taxation 1052.209
Additional Means of Securing Repayment of Bonds 1052.210
Use of Bond Proceeds 1052.251
Imposition of Ad Valorem Tax 1052.252
Tax Rate 1052.253
Tax Assessor-collector 1052.301
Dissolution 1052.302
Notice of Election 1052.303
Ballot 1052.304
Election Results 1052.305
Transfer of Administration of Assets 1052.306
Imposition of Tax and Return of Surplus Taxes 1052.307
Report
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 1052.160’s source at texas​.gov