Texas Health and Safety Code 263.024 – Hospital Revenue Bonds
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(a) A county may issue revenue bonds for:
(1) acquiring, constructing, repairing, equipping, or renovating buildings and improvements for county hospital purposes; or
(2) acquiring land for county hospital purposes.
(b) The county may issue bonds to refund previously issued revenue bonds.
Terms Used In Texas Health and Safety Code 263.024
- 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 revenue bonds shall be payable from and secured by a pledge of all or a part of the revenues of the county derived from the operation of the hospital. The bonds may be additionally secured by a mortgage or deed of trust lien on all or part of the county’s hospital property.
(d) The revenue 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.