Texas Health and Safety Code 284.031 – Authority to Issue
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(a) A hospital district created in accordance with Article IX, Section 9, of the Texas Constitution may issue revenue bonds to:
(1) acquire, construct, repair, renovate, or equip buildings and improvements for hospital purposes; and
(2) acquire sites for hospital purposes.
(b) The hospital district may refund revenue bonds previously issued for the purposes specified by Subsection (a).
Terms Used In Texas Health and Safety Code 284.031
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: means real and personal property. See Texas Government Code 311.005
(c) The bonds must be payable from and secured by a pledge of all or part of district revenues from operation of a hospital. The bonds may also be secured by a mortgage or deed of trust lien on all or part of the district’s property.
(d) The bonds must be issued in accordance with Sections 264.042-264.047(a), 264.048, and 264.049, and with the effect specified by § 264.050.