Powers of board of trustees: Mortgage or pledge of personal property and acquisition of real property. The board of trustees, with the approval of the board of county commissioners, if the board of county commissioners is not the board of hospital trustees, or, if the district in which the hospital is located includes territory within more than one county, with the approval of the board of county commissioners of each of those counties, may, by resolution:
1. Mortgage or pledge the personal property of the hospital, including accounts receivable, and enter into agreements for the sale and leasing back to the hospital of its personal property to provide security for acquiring money for the operation of the hospital; and
2. Acquire real property for the expansion of the hospital by entering into a contract for purchase of a type and duration and on such terms as the governing body determines, including a contract secured by a mortgage or other security interest in the real property.
Last modified: February 26, 2006