Texas Special District Local Laws Code 1014.107 – District Property, Facilities, and Equipment
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(a) The board shall determine:
(1) the type, number, and location of buildings or other facilities required to maintain an adequate hospital system; and
(2) the type of equipment necessary for hospital care.
(b) The board may:
(1) acquire by purchase, lease, or lease to purchase or may construct, repair, or renovate property, including facilities or equipment, for use in the district’s hospital system; and
(2) mortgage or pledge the property as security for the purchase price.
Terms Used In Texas Special District Local Laws Code 1014.107
- 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 lease, sell, or otherwise dispose of all or part of the district’s property for the district, including facilities or equipment, to a public or private entity.