(a) In this section, "institution of higher education" has the meaning assigned by Section 61.003, Education Code.
(b) This section applies only to a municipality that:
(1) has a population of more than 17,000 but less than 18,000; and
(2) is located in two counties.
(c) A municipality may acquire land and may construct or acquire a building or other facility for the purpose of selling or leasing the land, building, or other facility to an institution of higher education that will provide a significant number of vocational and vocational-technical education courses in the facility for public use.
(d) The municipality may sell or lease the property:
(1) without public notice or bidding; and
(2) on terms the governing body of the municipality finds acceptable.
(e) A municipality may not acquire land under this section by eminent domain.
(f) A sale under Subsection (c) may be by an installment sale agreement or otherwise.