Texas Health and Safety Code 223.015 – Obligations Limited
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(a) The issuer may not incur a financial obligation under this chapter that cannot be paid from the proceeds of hospital project bonds, revenues derived from operating a hospital project, or other revenues that may be provided by a nonprofit organization in accordance with this chapter.
(b) The legislature or an issuer may not make an appropriation to pay any part of a cost of a hospital project or any operating cost of a hospital project.
Terms Used In Texas Health and Safety Code 223.015
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.