Texas § HS.315.002 - AUTHORITY TO BORROW MONEY FOR PUBLIC HOSPITAL
Full text of Texas The Texas Constitution § HS.315.002 — AUTHORITY TO BORROW MONEY FOR PUBLIC HOSPITAL, with citation guidance and answers to common questions.
§ HS.315.002. AUTHORITY TO BORROW MONEY FOR PUBLIC HOSPITAL
AUTHORITY TO BORROW MONEY FOR PUBLIC HOSPITAL; SECURITY. (a) A local governmental entity may borrow money for purposes of a hospital owned or operated by the entity at a rate not to exceed the maximum annual percentage rate allowed by the law at the time the loan is made for similar obligations of the entity. (b) To secure a loan under this section, a local governmental entity may pledge: (1) revenue from the hospital owned or operated by the entity that is not pledged to pay the entity's bonded indebtedness; or (2) tax revenue to be collected by the local governmental entity during the 12-month period following the date of the pledge that is not pledged to pay the principal of or interest on bonds. (c) A loan authorized by this section must mature: (1) not later than the first anniversary of the date the loan is made, if taxes are pledged to repay the loan; and (2) not later than the fifth anniversary of the date the loan is made, if hospital revenue is pledged to repay the loan. Added by Acts 2011, 82nd Leg., R.S., Ch. 611 (S.B. 494 ), Sec. 1, eff. September 1, 2011.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § HS.315.002
What does The Texas Constitution § HS.315.002 cover?
Section HS.315.002 ("AUTHORITY TO BORROW MONEY FOR PUBLIC HOSPITAL") 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.315.002?
A common citation format is "The Texas Constitution § HS.315.002" (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.315.002 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.