Tex. Loc. Gov't Code § 252.050 · Subchapter C. PROCEDURES
LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section applies only to a lease-purchase or installment purchase of real property financed by the issuance of certificates of participation.
(b) The governing body of a municipality may not make an agreement under which the municipality is a lessee in a lease-purchase of real property or is a purchaser in an installment purchase of real property unless the governing body first obtains an appraisal by a qualified appraiser who is not an employee of the municipality. The purchase price may not exceed the fair market value of the real property, as shown by the appraisal.
Notes and commentary — not statutory text
History
Added by Acts 1989, 71st Leg., 1st C.S., ch. 10, Sec. 2, eff. Oct. 18, 1989.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.252.htm
- Text hash
- sha256 b296582dc38c08612ccf2094ce27444016bf6affa4a5850d060eefc57c1caa9b
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.