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Texas Special District Local Laws Code - SDLL § 1001.357. Payment of Revenue Bonds; Security

Current as of January 01, 2024 | Updated by FindLaw Staff

(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 ownership of hospital facilities; and

(2) pledge to the payment of revenue bonds all or any part of a grant, donation, or income received or to be received from the United States or any other public or private source.

(b) The bonds may be additionally secured by a mortgage or deed of trust on any real property on which a district hospital facility is or will be located and any real or personal property incident or appurtenant to the facility. The governing body may authorize the execution and delivery of a trust indenture, mortgage, deed of trust, or other form of encumbrance to evidence the security interest.

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Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 1001.357. Payment of Revenue Bonds; Security - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-1001-357/

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