1. (a) The board may issue and sell bonds authorized by an election in the name and on the faith and credit of the district to:

   1. (1) purchase, construct, acquire, repair, or renovate buildings or improvements; and
   2. (2) equip buildings or improvements for hospital purposes.
2. (b) The bonds shall be sold at the time, in the manner, and under the terms determined by the board.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.