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Relating to the financing of hospital equipment; providing for the administration of this Act by a public benefit corporation known as the Texas Hospital Equipment Financing Council, for its creation, its board of trustees, and its powers and duties; providing for indemnification of any trustee in certain circumstances; relating to the establishment of health-related equipment sale, lease, or loan programs for certain qualified participating health-care providers; providing for sale, lease, and loan agreements for such health-related equipment; providing the procedures to be followed; authorizing the issuance of revenue bonds, notes, or other evidences of indebtedness and the refunding of outstanding obligations; prescribing prerequisites and procedures for issuance and the terms of such bonds or notes, including the maximum rate of interest which may be borne thereby; providing permissable security for such bonds or notes; prohibiting use of any money of the state or any political subdivision or agency of the state except revenue from any agreements with participating health-care providers for payments on the bonds and notes which providers are either a political subdivision or any agency of the state; prohibiting the impairment of the right and remedies of the holders of such bonds and notes by the state; making provisions in the event of default in payment of such bonds or notes or in the event of violation of such agreements; authorizing the refunding of such bonds or notes; providing for the use and issuance of temporary receipts or temporary notes or bonds; providing that such bonds or notes shall be legal investments; providing for the perfection of security interests granted by the financing council; providing exemption from taxation and the sales, use, and excise tax on certain items of the financing council and its bonds or notes or income related thereto and providing for the taxation of health-related equipment; providing that such bonds or notes shall be exempt securities under the Texas Securities Act, as amended; providing for the relationship of this Act to the Texas Health Planning and Development Act, as amended; containing other provisions relating to the subject; providing for severability; declaring an emergency.