Tex. Health and Safety Code § 265.043
This is the official text of Tex. Health and Safety Code § 265.043, part of Texas’s Health and Safety Code — covers public health and safety regulation.
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§ 265.043. SALE AND USE OF PROCEEDS.
Official statutory text
(a) The revenue bonds may be sold at public or private sale at a price and under terms determined by the directors. The bonds may bear interest at a rate not to exceed the maximum rate provided by Chapter 1204, Government Code.
(b) Proceeds from the sale of the bonds may be used, if the use is authorized in the proceedings authorizing issuance of the bonds, to:
(1) pay interest on the bonds during the construction of hospital facilities acquired through issuance of the bonds;
(2) pay operation and maintenance expense of the hospital facilities to the extent and for the time specified in the proceedings;
(3) create reserves for the payment of principal of and interest on the bonds; or
(4) invest, until needed, to the extent and in the manner provided in the bond resolution or a trust indenture executed in connection with the bonds.
(b) Proceeds from the sale of the bonds may be used, if the use is authorized in the proceedings authorizing issuance of the bonds, to:
(1) pay interest on the bonds during the construction of hospital facilities acquired through issuance of the bonds;
(2) pay operation and maintenance expense of the hospital facilities to the extent and for the time specified in the proceedings;
(3) create reserves for the payment of principal of and interest on the bonds; or
(4) invest, until needed, to the extent and in the manner provided in the bond resolution or a trust indenture executed in connection with the bonds.
Status: in_force · Read it on the official government site
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