Title SD, Special District Local Laws Code

Sec. 1004.206. INSPECTION OF ANNUAL AUDIT AND DISTRICT RECORDS. The annual audit and other district records are open to inspection during regular business hours at the principal office of the district. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2…

Sec. 1004.207. FINANCIAL REPORT. As soon as practicable after the close of each fiscal year, the district administrator shall prepare for the board a sworn statement of the amount of district money and an account of the disbursement of that money. Added by Acts 2005, 79th Leg., C…

Sec. 1004.208. SHORT-TERM FINANCING. The district may borrow money through short-term financing. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.

Sec. 1004.209. DEBT LIMITATION. Except as provided by Chapter 1207, Government Code, and Sections 1004.116, 1004.251, and 1004.254, the district may not incur a debt payable from district revenue other than revenue available in the current fiscal year and the immediately followin…

Sec. 1004.210. DEPOSITORY. (a) The board shall select at least one bank to serve as a depository for district money. (b) The board may solicit bids from local financial institutions to determine which institution may serve as a depository for district money. (c) District money, o…

Sec. 1004.211. RESTRICTION ON INVESTMENT. The board may invest operating, depreciation, or building reserves only in funds or securities specified by Chapter 2256, Government Code. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007. SUBCHAPTER F. BO…

Sec. 1004.251. GENERAL OBLIGATION BONDS. If authorized by an election, the board may issue and sell general obligation bonds in the name and on the faith and credit of the district to: (1) purchase, construct, acquire, repair, or renovate buildings or improvements; (2) equip buil…

Sec. 1004.252. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At the time general obligation bonds are issued by the district under Section 1004.251, the board shall impose an ad valorem tax in an amount sufficient to create an interest and sinking fund to pay the principal of and inte…

Sec. 1004.253. 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 in an election held for that purpose. (b) The board may order a bond election. The order calling the election m…

Sec. 1004.254. REVENUE BONDS. (a) The board may issue revenue bonds to: (1) acquire, purchase, construct, repair, renovate, or equip buildings or improvements for hospital purposes; (2) acquire sites to be used for hospital purposes; or (3) acquire and operate a mobile emergency …

Sec. 1004.255. MATURITY. District bonds must mature not later than 50 years after the date of their issuance. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.

Sec. 1004.256. EXECUTION OF BONDS. (a) The board president shall execute district bonds in the district's name. (b) The board secretary shall countersign the bonds in the manner provided by Chapter 618, Government Code. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.0…

Sec. 1004.257. BONDS NOT SUBJECT TO TAXATION. The following are not subject to taxation by the state or by a political subdivision of the state: (1) bonds issued by the district; (2) any transaction relating to the bonds; and (3) profits made in the sale of the bonds. Added by Ac…

Sec. 1004.301. IMPOSITION OF AD VALOREM TAX. (a) The board shall impose a tax on all property in the district subject to hospital district taxation. (b) The tax may be used to pay: (1) indebtedness issued or assumed by the district; and (2) the maintenance and operating expenses …

Sec. 1004.302. TAX RATE. (a) The board may impose an annual tax at a rate not to exceed the limit approved by the voters at the election authorizing the imposition of a tax. (b) The tax rate on all taxable property in the district for all purposes may not exceed 75 cents on each …

Sec. 1004.303. ELECTION TO INCREASE MAXIMUM TAX RATE. (a) The board may order an election to increase the maximum tax rate of the district to an amount not to exceed 75 cents on each $100 valuation of the taxable property in the district. (b) The board shall order an election to …

Sec. 1004.304. NOTICE OF ELECTION. (a) The board shall give notice of an election under this subchapter by publishing a substantial copy of the election order in a newspaper with general circulation in the district once a week for two consecutive weeks. (b) The first publication …

Sec. 1004.305. BALLOT. The ballot for an election under this subchapter must be printed to permit voting for or against the proposition: "The increase by the Ballinger Memorial Hospital District of the rate of annual taxes for hospital purposes on all taxable property in the dist…

Sec. 1004.306. TAX ASSESSOR-COLLECTOR. The board may provide for the appointment of a tax assessor-collector for the district or may contract for the assessment and collection of taxes as provided by the Tax Code. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff…