Texas Special District Local Laws Code 1038.107 – District Property, Facilities, and Equipment
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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:
(1) purchase or lease property, including facilities or equipment, for the district to use in the hospital system; and
(2) mortgage or pledge the property as security for the payment of the purchase price.
Terms Used In Texas Special District Local Laws Code 1038.107
- 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 district hospital facilities to individuals, corporations, or other legal entities.
(d) The board may sell or otherwise dispose of the district’s property.