Title SD, Special District Local Laws Code

Sec. 1072.161. 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 2009, 81st Leg., R.S., Ch. 876 (S.B. 2517), Sec. 3.01, eff. June 19, 2009. SUBCHAPTER…

Sec. 1072.201. 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. 1072.202. TAX TO PAY GENERAL OBLIGATION BONDS. (a) At the time general obligation bonds are issued by the district under Section 1072.201, 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. 1072.203. 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. 1072.204. 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. 1072.205. MATURITY. District bonds must mature not later than 40 years after the date of their issuance. Added by Acts 2009, 81st Leg., R.S., Ch. 876 (S.B. 2517), Sec. 3.01, eff. June 19, 2009.

Sec. 1072.206. 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 2009, 81st Leg., R.S., Ch. 876 (S.B. 2517), Se…

Sec. 1072.207. 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. 1072.251. 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. 1072.252. 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. 1072.253. 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 2009, 81st Leg., R.S., Ch. 876 (S.B. 2517), Sec. 3.0…

Sec. 1072.301. DISSOLUTION; ELECTION. (a) The district may be dissolved only on approval of a majority of the voters voting in an election held for that purpose. (b) The board may order an election on the question of dissolving the district and disposing of the district's assets …

Sec. 1072.302. 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. 1072.303. BALLOT. The ballot for an election under this subchapter must be printed to permit voting for or against the proposition: "The dissolution of the North Runnels County Hospital District." Added by Acts 2009, 81st Leg., R.S., Ch. 876 (S.B. 2517), Sec. 3.01, eff. June…

Sec. 1072.304. ELECTION RESULTS. (a) If a majority of the votes in an election under this subchapter favor dissolution, the board shall order that the district be dissolved. (b) If a majority of the votes in an election under this subchapter do not favor dissolution, the board sh…

Sec. 1072.305. TRANSFER OR ADMINISTRATION OF ASSETS. (a) If a majority of the votes in an election under this subchapter favor dissolution, the board shall: (1) transfer the land, buildings, improvements, equipment, and other assets belonging to the district to Runnels County or …

Sec. 1072.306. IMPOSITION OF TAX AND RETURN OF SURPLUS TAXES. (a) After the board determines that the district is dissolved, the board shall: (1) determine the debt owed by the district; and (2) impose on the property included in the district's tax rolls a tax that is in proporti…

Sec. 1072.307. REPORT; DISSOLUTION ORDER. (a) After the district has paid all its debts and has disposed of all its money and other assets as prescribed by this subchapter, the board shall file a written report with the Commissioners Court of Runnels County summarizing the board'…