Texas § HS.265.0177 - AUTHORITY TO BORROW MONEY
Full text of Texas The Texas Constitution § HS.265.0177 — AUTHORITY TO BORROW MONEY, with citation guidance and answers to common questions.
§ HS.265.0177. AUTHORITY TO BORROW MONEY
AUTHORITY TO BORROW MONEY. (a) After approval by resolution of the commissioners court of the county and the governing body of the municipality that appointed the board, the board of managers may, on behalf of the hospital, borrow money from a federally insured lending institution for a purpose described by Section 265.0179 . The board may execute a loan agreement or promissory note as evidence of the obligation to repay the loan. (b) The board of managers may borrow money in an amount it considers advisable, subject to a rate of interest, security, and other terms it considers advisable. The loan shall mature not later than the 30th anniversary of the date on which the loan is made. (c) Before entering into a loan under this section, the board of managers must determine that there will be sufficient money available from revenues generated by the hospital to pay the loan when the loan becomes due. (d) The commissioners court of the county and the governing body of the municipality that appointed the board of managers must approve the terms of a loan agreement by written resolution. (e) Chapter 1202 , Government Code, does not apply to a promissory note or any other instrument evidencing a loan under this section. Added by Acts 2003, 78th Leg., ch. 719, Sec. 1, eff. June 20, 2003.
Frequently Asked Questions About Texas § HS.265.0177
What does The Texas Constitution § HS.265.0177 cover?
Section HS.265.0177 ("AUTHORITY TO BORROW MONEY") 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.265.0177?
A common citation format is "The Texas Constitution § HS.265.0177" (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.265.0177 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.