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Authorizing creation of a hospital district over part of Freestone County, to be known as the Teague Hospital District; prescribing a procedure for elections on the creation of the district, the levy of a tax within certain limits, and the issuance of bonds for hospital district purposes; providing the powers, duties, and responsibilities of the district and its governing body; providing for the operation and financing of said district, including the procedures it is to follow; authorizing city hospitals within the district to sell any and all of their facilities to the hospital district created by this Act; providing procedures for the bonds, their terms and conditions, and their security; providing for investment and use of proceeds; providing for refunding bonds; providing the characteristics of the bonds and for their eligibility for investments and as security for deposit of public funds; providing manner of assessing and collecting taxes; providing for payment for services by those obligated and able to pay; providing for appeals to the courts; making district bonds and profits exempt from taxes; disclaiming financial obligation on part of the state; reciting proof of publication of constitutional notice.