Special District Local Laws Code § 1103.2045

Sec. 1103.2045. REVENUE BONDS. (a) The board may issue revenue bonds to: (1) purchase, construct, acquire, repair, or renovate buildings or improvements; (2) equip buildings or improvements for hospital purposes; or (3) acquire real property for hospital purposes. (b) Revenue 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. (c) Revenue bonds may be additionally secured by a mortgage or deed of trust on all or part of district property. (d) Revenue bonds must be issued in the manner provided by Sections 264.042, 264.043, 264.046, 264.047, 264.048, and 264.049, Health and Safety Code, for issuance of revenue bonds by a county hospital authority. Added by Acts 2013, 83rd Leg., R.S., Ch. 161 (S.B. 1093), Sec. 18.003(b), eff. September 1, 2013.