Texas Special District Local Laws Code 1031.106 – District Property, Facilities, and Equipment
Current as of: 2024 | Check for updates
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(a) The board may:
(1) purchase or lease property, including facilities or equipment, for the district to use in the health care system; and
(2) mortgage or pledge the property as security for the payment of the purchase price.
(b) The board may lease district health care facilities to individuals, corporations, or other legal entities for a term not to exceed 20 years.
Terms Used In Texas Special District Local Laws Code 1031.106
- 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.
- Property: means real and personal property. See Texas Government Code 311.005
(c) The board may sell or otherwise dispose of the district’s property, including facilities or equipment.