§ 37659 Hospital Bond Financing Authority

• •The city can borrow money (by selling bonds) to buy land, buildings, or equipment for a hospital.
• •The city can also use this money to build or improve a hospital.
• •Before borrowing the money, the city must ask voters in an election if they agree.

A small town wants to build a new hospital but doesn’t have enough money.

The town can ask voters in an election if they agree to borrow money by selling bonds. If voters say yes, the town can use that money to buy land, build the hospital, and buy medical equipment.