Sec. 262.0225. AUTHORITY TO BORROW MONEY. (a) This section applies only to an authority created by a municipality with a population of less than 25,000.
(b) The board may, on behalf of the authority, borrow money from a federally insured lending institution for any of the authority's purposes.
(c) The board may borrow money in the amount it considers advisable subject to a rate of interest and other terms and conditions it considers advisable.
(d) A loan for which bonds are pledged shall mature not later than the first anniversary of the date on which the loan is made.
Added by Acts 1995, 74th Leg., ch. 740, Sec. 1, eff. Aug. 28, 1995. Amended by Acts 2003, 78th Leg., ch. 702, Sec. 1, eff. June 20, 2003.
Structure Texas Statutes
Chapter 262 - Municipal Hospital Authorities
Subchapter C. Powers and Duties
Section 262.021. General Powers
Section 262.022. Acquisition, Operation, and Lease of Hospitals
Section 262.0225. Authority to Borrow Money
Section 262.024. Management Agreement
Section 262.026. Rates for Hospital Services
Section 262.028. Eminent Domain
Section 262.029. Gifts and Endowments
Section 262.030. Medical Records
Section 262.031. Sale of Property; General Provisions
Section 262.032. Sale of Property to Political Subdivision
Section 262.033. Sale or Closing of Hospital
Section 262.034. Facilities and Services for Elderly and Disabled
Section 262.035. Powers and Duties of Certain Hospital Authorities; Lease
Section 262.036. Retirement Benefits
Section 262.037. Establishment of Nonprofit Corporation
Section 262.038. Hospital Authority Contracts, Collaborations, and Joint Ventures