Texas Special District Local Laws Code 1077.106 – District Property, Facilities, Equipment, and Services
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(a) The board has exclusive authority to determine the type, character, and use of facilities in the hospital system.
(b) The district may:
(1) purchase, construct, acquire, repair, or renovate buildings and improvements;
(2) mortgage or pledge the buildings and improvements as security for the payment of the purchase price, subject to Subsection (c); and
(3) equip buildings and improvements for hospital purposes.
Terms Used In Texas Special District Local Laws Code 1077.106
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(c) The total amount of debt secured by the district’s buildings and improvements may not exceed $2.5 million.