Section 1114.106 - District Property, Facilities, and Equipment(a) The board may lease all or part of the district's buildings and facilities on terms considered to be in the best interest of the district's inhabitants. The term of the lease may not exceed 25 years.(b) The district may acquire equipment for use in the district's hospital system and mortgage or pledge the property as security for the payment of the purchase price, subject to the provisions of this chapter. A contract entered into under this subsection must provide that the entire obligation be retired not later than the fifth anniversary of the date of the contract.Tex. Spec. Dist. Loc. Laws § 1114.106
Added by Acts 2013, 83rd Leg. - Regular Session, ch. 112,Sec. 1.01, eff. 4/1/2015.