Tex. Local Gov't Code Section 253.009
Conveyance of Adjoining Property to Municipal Development Corporation

(a)

A municipality may convey to a municipally created economic development corporation, including a development corporation organized under the Development Corporation Act (Subtitle C1, Title 12), real property that has been conveyed by gift to the municipality or conveyed to the municipality as part of a legal settlement and that is adjacent to an area designated for development by the corporation.

(b)

A municipality may convey property under Subsection (a) for any fair consideration approved by the governing body of the municipality. For a conveyance under this section to be effective, the governing body must adopt an ordinance that:

(1)

describes the property to be conveyed;

(2)

requires the conveyance to comply with the requirements of Section 5.022 (Form), Property Code, except a covenant of general warranty is not required; and

(3)

states the consideration paid.

(c)

A municipality may convey the property under this section without complying with the other notice or bidding requirements prescribed by other law, including Section 272.001 (Notice of Sale or Exchange of Land by Political Subdivision; Exceptions).
Added by Acts 1999, 76th Leg., ch. 1186, Sec. 1, eff. June 18, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.17, eff. April 1, 2009.

Source: Section 253.009 — Conveyance of Adjoining Property to Municipal Development Corporation, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­253.­htm#253.­009 (accessed May 11, 2024).

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Accessed:
May 11, 2024

§ 253.009’s source at texas​.gov