Texas Special District Local Laws Code 1062.107 – 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. Nothing here prohibits the establishing and equipping of a clinic as a part of the hospital system.
(b) The board may:
(1) purchase or lease property, including facilities and 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 1062.107
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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, including facilities and equipment.
(e) The district may acquire equipment for use in the district’s hospital system and mortgage or pledge the property as security for the payment of the purchase price. A contract entered into under this subsection must provide that the entire obligation be retired not later than the fifth anniversary of the date of the contract.