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HB 1307 seeks to allow the Gainesville Hospital District to mortgage or pledge the buildings and improvements as security for the payment of the purchase price provided that the total amount of debt secured by the district’s buildings and improvements may not exceed $2.5 million.
HB 1307 would also change the quorum and vote requirements of the Nocona Hospital District from five directors to four directors.
HB 1307 would provide reasonable means for the Gainesville Hospital District to develop smaller improvements capped at $2.5 million without increasing bond debt. The changes proposed for the Nocona Hospital District are purely administrative. Overall this bill makes administrative changes with no connection to our liberty principles. We are neutral on HB 1307.
The second chamber sponsor is Sen. Estes.