Sec. 285.007. LIMITATION ON USE OF PROCEEDS; AUDIT. (a) An advance under a revenue anticipation agreement may be used only for the purposes authorized by this subchapter.
(b) It is not a defense to repayment of advanced amounts that the funds are used for a purpose not authorized by this subchapter.
(c) The auditor of the hospital district shall:
(1) audit the use of advanced funds at the time of the district's regular audit; and
(2) certify to the commissioners court whether those funds are used for proper operating and maintenance purposes authorized by this subchapter.
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