Revenue Bonds

Sec. 1012.205. REVENUE BONDS. (a) The board may issue and sell revenue bonds in the name and on the faith and credit of the district to: (1) purchase, construct, acquire, repair, renovate, or equip buildings or improvements for hospitals and the hospital system; or (2) acquire sites to be used for hospital purposes. (b) The bonds must be payable from and secured by a pledge of all or part of the revenue derived from the operation of the district's hospital system. (c) The bonds may be additionally secured by a mortgage or deed of trust on all or part of the district's property. (d) The bonds must be issued in the manner provided by Sections 264.042, 264.043, and 264.046-264.049, Health and Safety Code, for issuance of revenue bonds by a county hospital authority. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.