Tex. Spec. Dist. Local Laws Code § 1114.205 · Subchapter E. BONDS
PROMISSORY NOTES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board may execute and deliver promissory notes to purchase, construct, acquire, repair, equip, or renovate buildings and improvements for hospital purposes.
(b) The notes may be secured by:
(1) a mortgage or deed of trust lien on all or part of the district property; or
(2) a pledge of revenues derived from the operation of the district's hospital.
(c) The notes may be paid from:
(1) taxes imposed by the district, not to exceed the tax rate approved by the voters; and
(2) the revenues derived from the operation of the district's hospital.
(d) The total amount of revenues pledged under Subsection (b)(2) may not exceed 50 percent of the estimated revenues for the period the pledge is effective.
Notes and commentary — not statutory text
History
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1114.htm
- Text hash
- sha256 67dc0fbafe2a6b96925e2d0ef65558b9f6668b1aa319ed037ca2b796ecdbe8d7
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.