Sec. 287.142. REVENUE BONDS. (a) The board may issue revenue bonds to:
(1) purchase, construct, acquire, repair, equip, or renovate buildings or improvements for district purposes;
(2) acquire sites to be used for district purposes; or
(3) acquire and operate a mobile emergency medical service to assist the district in carrying out its purposes.
(b) The bonds must be payable from and secured by a pledge of all or part of the revenues derived from the operation of the district. The bonds may be additionally secured by a mortgage or deed of trust lien on all or part of district property.
(c) The bonds must be issued in the manner provided by Sections 264.042, 264.043, 264.046, 264.047, 264.048, and 264.049 for issuance of revenue bonds by county hospital authorities.
(d) Revenue derived from the operation of the district and pledged to the repayment of revenue bonds issued by the district must be used to repay the principal and interest owed on the bonds before being used to repay any other obligation of the district, including money owed to physicians who are employed by or who contract with the district.
Added by Acts 1999, 76th Leg., ch. 1293, Sec. 1, eff. Sept. 1, 1999.
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