Texas Health and Safety Code 223.027 – Dedicated Repayment Revenue
Current as of: 2024 | Check for updates
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Terms Used In Texas Health and Safety Code 223.027
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The principal of, any redemption premium for, and interest on hospital project bonds are payable from and secured, as specified by the resolution of the governing body or in any trust agreement or other instrument securing the bonds, by a pledge of all or part of the revenues of the issuer to be derived from:
(1) the ownership, operation, lease, use, mortgage, or sale of the hospital project for which the bonds have been issued; or
(2) other revenues provided by a nonprofit organization.