Texas Special District Local Laws Code 1111.207 – Revenue and Special Obligation Bonds
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(a) The district may, without an election, issue revenue or special obligation bonds as authorized by the laws of this state relating to the issuance of revenue or special obligation bonds, including Sections 264.042-264.049 and 284.031, Health and Safety Code.
(b) Bonds issued under this section may be payable from and secured by revenue, encumbrances, and mortgages as authorized by law. Any maintenance and operating expense of the hospital system that is charged against the revenue of the system may include only items set forth and defined in the proceedings authorizing the bond issuance.
Terms Used In Texas Special District Local Laws Code 1111.207
- 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.
