Public-domain · open source
OpenJurist

Tex. Transp. Code § 463.154

TRANSFER OF REAL PROPERTY IN STATION OR TERMINAL COMPLEX

Added by Acts 2019, 86th Leg., R.S., Ch. 151 (H.B. 71), Sec. 1, eff

(a) An authority may transfer to any person by any means, including sale or lease, an interest in real property in a station or terminal complex and may contract with respect to it, in accordance with the comprehensive service plan approved by the executive committee, and subject to terms:

(1) the executive committee finds to be in the public interest or necessary to carry out this section; and

(2) specified in the instrument transferring the title or right of use.

(b) A transfer must be at the fair value of the interest transferred considering the use designated for the real property in the authority's comprehensive service plan.

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