By Counts H.B. No. 2658 77R9033 JMG-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the authority of Knox County Hospital District to enter 1-3 into a loan agreement. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Chapter 241, Acts of the 60th Legislature, Regular 1-6 Session, 1967, is amended by adding Section 6A to read as follows: 1-7 Sec. 6A. (a) The board of directors may borrow money at a 1-8 rate of interest determined to be appropriate by the board of 1-9 directors. 1-10 (b) To secure a loan, the board of directors may pledge: 1-11 (1) the revenues of the district that are not pledged 1-12 to pay the bonded indebtedness of the district; or 1-13 (2) property acquired with the loan proceeds that is 1-14 not pledged to pay the bonded indebtedness of the district. 1-15 (c) A loan authorized by this section shall mature not later 1-16 than the fifth anniversary of the date on which the loan was made. 1-17 SECTION 2. This Act takes effect immediately if it receives 1-18 a vote of two-thirds of all the members elected to each house, as 1-19 provided by Section 39, Article III, Texas Constitution. If this 1-20 Act does not receive the vote necessary for immediate effect, this 1-21 Act takes effect September 1, 2001.