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<br />." ., <br /> <br />- <br /> <br />e <br /> <br />" <br /> <br />6~ Any bonds issued by a health facilities <br />development corporation are payable solely from payments to be <br />made by the entity using the project being financed with such <br />bonds. The bonds must state on their face that neither the State <br />of Texas, Harris County or any political subdivision of the State <br />of Texas is obligated to pay the bonds and that neither the faith <br />and credit nor the taxing power of the State, of Texas, Harris <br />County or any political subdivision of the State of Texas is <br />pledged to the payment of the bonds. Such bonds would not affect <br />the County's own bond ratings nor the County's ability to borrow <br />money. <br /> <br />7. Projects financed through the issuance of these <br />bonds would not be exempt from payment of ad valorem or sales <br />taxes. <br /> <br />8. A health facilities development corporation is <br />. permitted .to charge fees to entities on whose behalf revenue <br />bonds are issued sufficient to cover all expenses incurred by the <br />corporation, and no funds of the County would be required to <br />support the operations of the proposed health facilities <br />development corporation. <br /> <br />9. In order to create the health facilities <br />development: corporation, the Commissioners Court need only pass a <br />resolution (the proposed form of which is attached hereto) and <br />approved Articles of Incorporation (the proposed form of which is <br />attached tc:> the resolution), and Bylaws (the proposed form of <br />which is attached to the resolution). No election is required in <br />order to create the health facilities development corporation or <br />in order for bonds to be issued by the health facilities <br />development corporation. <br /> <br />ACJA/4432B/L <br /> <br />- 2 - <br />