Texas § SD.1114.205 - PROMISSORY NOTES
Full text of Texas The Texas Constitution § SD.1114.205 — PROMISSORY NOTES, with citation guidance and answers to common questions.
§ SD.1114.205. PROMISSORY NOTES
PROMISSORY NOTES. (a) The board may execute and deliver promissory notes to purchase, construct, acquire, repair, equip, or renovate buildings and improvements for hospital purposes. (b) The notes may be secured by: (1) a mortgage or deed of trust lien on all or part of the district property; or (2) a pledge of revenues derived from the operation of the district's hospital. (c) The notes may be paid from: (1) taxes imposed by the district, not to exceed the tax rate approved by the voters; and (2) the revenues derived from the operation of the district's hospital. (d) The total amount of revenues pledged under Subsection (b)(2) may not exceed 50 percent of the estimated revenues for the period the pledge is effective. Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026 ), Sec. 1.01, eff. April 1, 2015.
Frequently Asked Questions About Texas § SD.1114.205
What does The Texas Constitution § SD.1114.205 cover?
Section SD.1114.205 ("PROMISSORY NOTES") 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 § SD.1114.205?
A common citation format is "The Texas Constitution § SD.1114.205" (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 § SD.1114.205 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.