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Tex. Gov't Code § 1501.207

SALE OF DISTRICT PROPERTY

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff

A district may sell to a municipality, and the municipality may buy, district property only if the purchase price paid, when added to other applicable money of the district, is sufficient to provide for the payment of:

(1) all outstanding district bonds, including interest on the bonds to:

(A) the maturity dates of the bonds; or

(B) the dates the district sets for redemption of the bonds;

(2) any required redemption premium; and

(3) any applicable fee of the bank of payment.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.