Texas Special District Local Laws Code 1018.107 – District Property, Facilities, and Equipment
Current as of: 2024 | Check for updates
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(a) The board shall determine the type, number, and location of buildings required to maintain an adequate hospital system.
(b) The board may lease all or part of the district’s facilities on terms considered to be in the best interest of the district’s inhabitants.
Terms Used In Texas Special District Local Laws Code 1018.107
- 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:
(1) acquire by lease, purchase, lease to purchase, or option to purchase property, including facilities, supplies, or equipment, for the district; and
(2) mortgage or pledge the property or the revenue from the property as security for the payment of the purchase price.
(d) The district may sell, lease, or otherwise dispose of any of the district’s property, including equipment, on terms the board finds are in the best interest of the district’s inhabitants.