Sec. 223.027. DEDICATED REPAYMENT REVENUE. The principal of, any redemption premium for, and interest on hospital project bonds are payable from and secured, as specified by the resolution of the governing body or in any trust agreement or other instrument securing the bonds, by a pledge of all or part of the revenues of the issuer to be derived from:
(1) the ownership, operation, lease, use, mortgage, or sale of the hospital project for which the bonds have been issued; or
(2) other revenues provided by a nonprofit organization.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Section: Previous 223.016 223.021 223.022 223.023 223.024 223.025 223.026 223.027 223.028 223.029 223.030 223.031 223.032 223.033 223.034 NextLast modified: September 28, 2016