(a) Subject to Subsection (c) and the approval of the commissioners court, the board by resolution may order the sale or lease of a facility that is:
(1) owned and operated by the district as a teaching hospital; and
(2) located on the campus of Texas Tech University.
(b) The resolution must include a finding by the board that the sale or lease:
(1) is in the best interests of district residents; and
(2) will not financially benefit a hospital official, other than from the continuation of a compensation package existing before the date of the sale or lease.
(c) The board may sell or lease the facility only if:
(1) no hospital official has made a disclosure under Sections 1053.156 and 1053.157 at any time before the date of the sale or lease; and
(2) a majority of the votes cast at an election held under this subchapter approves the sale or lease.