Texas Special District Local Laws Code 1049.206 – Revenue Bonds
Current as of: 2024 | Check for updates
|
Other versions
(a) The board may issue and sell revenue bonds in the name and on the faith and credit of the district to purchase, construct, acquire, repair, renovate, or equip buildings or improvements for district purposes.
(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 hospital system.
Terms Used In Texas Special District Local Laws Code 1049.206
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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 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 the issuance of revenue bonds by a county hospital authority.