Sec. 136.006. LOANS TO COMMUNITY HEALTH CENTERS. (a) The development corporation may make a loan to a community health center only with the approval of the investment committee.
(b) The development corporation shall use at least 60 percent of the money received under the program for loans to community health centers in existence for at least one year before the loan date.
(c) A loan made by the development corporation may be subordinated debt.
(d) The development corporation may make a loan under the program through a partnership or joint investment with one or more financial institutions or federal or state programs.
(e) Payments on community health center loans shall be made to the development corporation. The development corporation shall use the loan payment money received from community health centers to make new loans as provided by this chapter.
Added by Acts 2001, 77th Leg., ch. 878, Sec. 1, eff. Sept. 1, 2001.
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