§ 1001.356. REVENUE BONDS. (a) The governing body may issue and sell revenue bonds for and in the name of the district to: (1) purchase, construct, acquire, repair, renovate, improve, enlarge, or equip hospital facilities; or (2) acquire real or personal property for use in connection with the hospital facilities. (b) A revenue bond issued under this section is a special obligation of the district. (c) A revenue bond issued under this section must mature not later than 40 years after the date of issuance. The total principal of revenue bonds issued and outstanding may not exceed $20 million. (d) Under the terms prescribed in an ordinance authorizing the issuance of revenue bonds, the governing body may provide for the subsequent issuance of additional parity bonds, subordinate lien bonds, or other types of bonds. Added by Acts 2005, 79th Leg., ch. 729, § 1.01, eff. April 1, 2007.

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Last modified: August 10, 2007