Title SD, Special District Local Laws Code

Sec. 1001.351. GENERAL OBLIGATION BONDS. The governing body may issue and sell general obligation bonds in the name and on the faith and credit of the district to purchase, construct, acquire, equip, or enlarge the hospital or hospital system. Added by Acts 2005, 79th Leg., Ch. 7…

Sec. 1001.352. TAX TO PAY GENERAL OBLIGATION BONDS. (a) The governing body shall impose an ad valorem tax at a rate sufficient to create an interest and sinking fund to pay the principal of and interest on the general obligation bonds as the bonds mature. (b) The tax required by …

Sec. 1001.353. GENERAL OBLIGATION BOND ELECTION. (a) The district may issue general obligation bonds only if the bonds are authorized by a majority of the voters voting at an election held according to the law relating to municipal bonds. (b) The governing body shall call the ele…

Sec. 1001.354. EXECUTION OF GENERAL OBLIGATION BONDS. (a) The mayor of the City of Amarillo shall execute the general obligation bonds in the district's name. (b) The city secretary shall countersign the bonds. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. A…

Sec. 1001.355. INVESTMENT OF GENERAL OBLIGATION BOND PROCEEDS. Proceeds from the sale of general obligation bonds may be invested in direct obligations of the United States government. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.

Sec. 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 co…

Sec. 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 owner…

Sec. 1001.358. USE OF REVENUE BOND PROCEEDS. (a) If permitted in the bond ordinance, any required part of the proceeds from the sale of the revenue bonds may be used to: (1) pay interest on the bonds during the construction of a hospital facility to be provided through the issuan…

Sec. 1001.359. CHARGE FOR OCCUPANCY OR USE OF HOSPITAL FACILITY. The governing body and the board shall establish and collect charges for the occupancy or use of a hospital facility and for related services in the amounts and manner determined by the board. The charges shall be s…

Sec. 1001.360. REFUNDING BONDS. (a) The board may, without an election, issue refunding bonds to refund outstanding general obligation bonds issued or assumed by the district. (b) Refunding bonds may be: (1) sold, with the proceeds of the refunding bonds applied to the payment of…

Sec. 1001.361. BONDS EXEMPT FROM TAXATION. The following are exempt from taxation by this state or a political subdivision of this state: (1) bonds issued by the district; (2) a transaction relating to the bonds; and (3) profits made in the sale of the bonds. Added by Acts 2005, …

Sec. 1001.401. IMPOSITION OF AD VALOREM TAX. (a) The governing body shall impose on all taxable property in the district, for the benefit of the district, a tax at a rate not to exceed 75 cents on each $100 valuation of the property. (b) The governing body shall impose the tax at…

Sec. 1001.402. DUTY TO IMPOSE TAX. (a) The ordinance authorizing the issuance of revenue bonds may pledge the proceeds of an annual ad valorem tax for the payment of the district's operation and maintenance expenses. (b) If the annual ad valorem tax is pledged, the governing body…

Sec. 1001.403. POTTER COUNTY TAX. (a) The Potter County Commissioners Court may impose an ad valorem tax on all property inside the county and outside the boundaries of the City of Amarillo to provide financial aid to the district. (b) The tax may not exceed 10 cents on each $100…

Sec. 1001.404. TAX ASSESSOR-COLLECTOR. (a) The tax assessor and collector for the City of Amarillo shall collect taxes imposed on all property subject to district taxation in the same manner and under the same conditions as for city taxes. (b) From payments to the district, the t…

Sec. 1001.405. INTEREST, PENALTIES, AND DISCOUNTS. Interest, penalties, and discounts on taxes paid to the district shall be the same as those on taxes paid to the city. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.