Texas Special District Local Laws Code - Section 1001.357. Payment Of Revenue Bonds; Security
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§ 1001.357. PAYMENT OF REVENUE BONDS; SECURITY. (a) The
governing body may:
(1) issue revenue bonds payable from and secured by
liens on and pledges of all or any part of the revenues and income,
other than ad valorem taxes, derived by the district from the
operation and ownership of hospital facilities; and
(2) pledge to the payment of revenue bonds all or any
part of a grant, donation, or income received or to be received from
the United States or any other public or private source.
(b) The bonds may be additionally secured by a mortgage or
deed of trust on any real property on which a district hospital
facility is or will be located and any real or personal property
incident or appurtenant to the facility. The governing body may
authorize the execution and delivery of a trust indenture,
mortgage, deed of trust, or other form of encumbrance to evidence
the security interest.
Added by Acts 2005, 79th Leg., ch. 729, § 1.01, eff. April 1,
2007.
Section: 1001.303 1001.351 1001.352 1001.353 1001.354 1001.355 1001.356 1001.357 1001.358 1001.359 1001.360 1001.361 1001.401 1001.402 1001.403
Last modified: August 10, 2007
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