Tex. Spec. Dist. Local Laws Code Section 1100.211
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 if the board declares that:

(1)

money is not available to meet authorized district obligations; and

(2)

an emergency exists.

(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 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.

(d)

The board may not spend money obtained from a loan under this section for any purpose other than:

(1)

the purpose for which the board declared an emergency; and

(2)

if district taxes or bonds are pledged to pay the loan, the purposes for which the pledged taxes were imposed or the pledged bonds were authorized.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.

Source: Section 1100.211 — Authority to Borrow Money; Security, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1100.­htm#1100.­211 (accessed Apr. 29, 2024).

1100.001
Definitions 1100.002
Authority for Operation 1100.003
Essential Public Function 1100.004
District Territory 1100.005
Correction of Invalid Procedures 1100.006
District Support and Maintenance Not State Obligation 1100.007
Restriction on State Financial Assistance 1100.051
Board Election 1100.052
Notice of Election 1100.053
Ballot Petition 1100.054
Qualifications for Office 1100.055
Board Vacancy 1100.056
Officers 1100.057
Quorum 1100.058
Expenses 1100.059
Payment for Attendance at Meetings 1100.060
Petition to Change Number of Directors 1100.061
District Administrator 1100.062
General Duties of District Administrator 1100.063
Appointment of Staff and Employees 1100.064
Recruitment of Medical Staff 1100.065
Continuing Education 1100.101
District Responsibility 1100.102
Restriction on Political Subdivision Taxation and Debt 1100.103
Management, Control, and Administration 1100.104
Hospital System 1100.105
Rules 1100.106
Purchasing and Accounting Procedures 1100.107
District Property, Facilities, and Equipment 1100.108
Eminent Domain 1100.109
Gifts and Endowments 1100.110
Construction Contracts 1100.111
Operating and Management Contracts 1100.112
Contracts with Governmental Entities for Care and Treatment 1100.113
Contracts with Governmental Entities for Investigatory or Other Services 1100.114
Payment for Treatment 1100.115
Reimbursement for Services 1100.116
Authority to Sue and Be Sued 1100.151
Expansion of Territory 1100.152
Ballot 1100.201
Budget 1100.202
Notice 1100.203
Amendments to Budget 1100.204
Restriction on Expenditures 1100.205
Fiscal Year 1100.206
Audit 1100.207
Inspection of Audit and District Records 1100.208
Financial Report 1100.209
Depository 1100.210
Spending and Investment Restrictions 1100.211
Authority to Borrow Money 1100.251
General Obligation Bonds 1100.252
Tax to Pay General Obligation Bonds 1100.253
General Obligation Bond Election 1100.254
Maturity of General Obligation Bonds 1100.255
Execution of General Obligation Bonds 1100.256
Revenue Bonds 1100.257
Refunding Bonds 1100.258
Bonds Exempt from Taxation 1100.301
Imposition of Ad Valorem Tax 1100.302
Tax Rate 1100.303
Tax Assessor-collector 1100.351
Dissolution 1100.352
Ballot 1100.353
Election Results 1100.354
Transfer or Administration of Assets 1100.355
Imposition of Tax 1100.356
Return of Surplus Taxes 1100.357
Report
Green check means up to date. Up to date

Accessed:
Apr. 29, 2024

§ 1100.211’s source at texas​.gov