Texas § HS.221.066 - SOURCE OF PAYMENT
Full text of Texas The Texas Constitution § HS.221.066 — SOURCE OF PAYMENT, with citation guidance and answers to common questions.
§ HS.221.066. SOURCE OF PAYMENT
SOURCE OF PAYMENT; BONDS NOT GENERAL OBLIGATION. (a) The principal of, interest on, and any redemption penalty on bonds issued under this chapter are payable solely from, and may be secured by a pledge of all or part of, one or more of the following: (1) the bond proceeds; (2) revenue derived from the lease or sale of a health facility or from a loan made by a development corporation to finance or refinance all or part of a health facility; (3) revenue derived from the operation of a health facility; or (4) other revenue provided by a user of a health facility. (b) The bonds are not an obligation or a pledge of the faith and credit of the state, a sponsoring entity, or other political subdivision or agency of the state. (c) Each bond must contain on its face a statement that: (1) neither the state nor a political subdivision or agency of the state, including the sponsoring entity, is obligated to pay the bonds or interest on the bonds; and (2) neither the faith and credit nor the taxing power of the state, the sponsoring entity, or other political subdivision or agency of the state is pledged to the payment of the principal of or interest or any redemption premium on the bonds. Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Frequently Asked Questions About Texas § HS.221.066
What does The Texas Constitution § HS.221.066 cover?
Section HS.221.066 ("SOURCE OF PAYMENT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § HS.221.066?
A common citation format is "The Texas Constitution § HS.221.066" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § HS.221.066 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.