Texas Special District Local Laws Code 1002.306 – Revenue Bonds
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(a) The board may issue revenue bonds to:
(1) purchase, construct, repair, renovate, or acquire buildings, sites, or improvements and equip buildings, sites, or improvements for hospitals and the hospital system; and
(2) establish and maintain office facilities for staff physicians under Section 1002.058.
(b) The bonds must be payable from and secured by a pledge of all or part of the revenues derived from the operation of the district’s hospital system, including district facilities.
Terms Used In Texas Special District Local Laws Code 1002.306
- 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) Bonds issued under Subsection (a)(1) may be additionally secured by a mortgage or deed of trust lien on all or part of the district property.
(d) Bonds issued under Subsection (a)(1) must be issued in the manner provided by Sections 264.042, 264.043, 264.046, 264.047, 264.048, and 264.049, Health and Safety Code.
(e) Bonds issued under Subsection (a)(2) must be issued in the manner provided by Sections 264.042-264.047(a), 264.048, and 264.049, Health and Safety Code.