Sec. 223.012. TITLE TO PROJECTS. (a) An issuer may vest title to a hospital project provided under this chapter in a nonprofit organization.
(b) If the issuer vests the title in a nonprofit organization, it may retain a mortgage interest in the hospital project. The mortgage interest expires when all bonds of the issuer sold to provide the hospital project are paid or provision has been made for their final payment.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Subtitle A - Financing, Constructing, Regulating, and Inspecting Health Facilities
Chapter 223 - Hospital Project Financing Act
Subchapter B. Financing Hospital Projects
Section 223.011. Providing Hospital Projects
Section 223.012. Title to Projects
Section 223.013. Contracts Relating to Hospital Project
Section 223.014. Authority of Issuer