Texas Special District Local Laws Code 1088.206 – Revenue Bonds
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(a) The board may issue revenue bonds to:
(1) purchase, construct, acquire, repair, equip, or renovate buildings or improvements for district purposes; or
(2) acquire sites for those buildings or improvements.
(b) The bonds must be payable from and secured by a pledge of all or part of district revenue derived from the operation of the district’s hospital system.
Terms Used In Texas Special District Local Laws Code 1088.206
- 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 may be additionally secured by a mortgage or deed of trust lien on all or part of district property.
(d) The bonds must be issued in the manner and in accordance with the procedures and requirements prescribed by Sections 264.042, 264.043, 264.044, 264.046, 264.047, 264.048, and 264.049, Health and Safety Code, for issuance of revenue bonds by a county hospital authority.