|
Senate Bill 494 |
Senate Author: Fraser |
|
Effective: 9-1-11 |
House Sponsor: Craddick |
Senate Bill 494 amends the Health and Safety Code to authorize certain local governmental entities to borrow money for purposes of a public hospital owned or operated by the entity and to establish a maximum interest rate for such a loan. The bill authorizes the entity to pledge hospital revenue or the entity's tax revenue to secure the loan and specifies loan maturity deadlines.