Texas Special District Local Laws Code 1031.204 – Revenue Bonds
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(a) The district may issue revenue bonds for any health care purpose, including a purpose described by Section 1031.201, only if the bonds are authorized by a majority of the district voters voting at an election held for that purpose.
(b) The bonds must be payable from and secured by a pledge of all or part of the revenue derived from the operation of the district’s health care system.
Terms Used In Texas Special District Local Laws Code 1031.204
- 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 provided by Sections 264.042, 264.043, and 264.046-264.049, Health and Safety Code, for issuance of revenue bonds by a county hospital authority.