Texas Special District Local Laws Code 1043.206 – Revenue Bonds
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(a) The board may issue revenue bonds to:
(1) purchase, construct, acquire, repair, or renovate buildings or improvements, including necessary equipment and furnishings, for hospital purposes and the hospital system;
(2) acquire sites to be used for hospital purposes; or
(3) acquire and operate a mobile emergency medical or air ambulance service to assist the district in carrying out its hospital purpose.
(b) The bonds may be secured by a mortgage or deed of trust lien on all or part of district property.
Terms Used In Texas Special District Local Laws Code 1043.206
- 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 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.