Sec. 285.003. AUTHORITY TO MAKE REVENUE ANTICIPATION AGREEMENT. (a) The commissioners court of the county may make a revenue anticipation agreement with a person, including a bank or other financial institution, on the determination by the commissioners court that the county hospital district's projected revenue, including tax collections, will not be received by the district at the times necessary to pay when due the district's operating and maintenance expenses.
(b) Under the revenue anticipation agreement, the contracting person agrees to advance to the hospital district, and the county and district agree to repay from the sources specified by Section 285.006, funds necessary for the district hospital facilities' operation and maintenance during the term of the agreement.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Subtitle D - Hospital Districts
Chapter 285 - Special Provisions Relating to Hospital Districts
Subchapter A. Payment of Hospital District Operating Expenses in Certain Populous Counties
Section 285.002. Applicability of Subchapter
Section 285.003. Authority to Make Revenue Anticipation Agreement
Section 285.005. Refunding Prohibited; Repayment Required
Section 285.006. Security; Default of Repayment