Sec. 1232.206. PROPERTY CONVEYANCE. (a) When the principal of and interest on obligations relating to equipment or a building financed under this chapter are fully paid and the equipment or building is free of all liens, the board shall certify to the commission or the appropriate state agency that rentals, payments, or installments are no longer required to pay the principal of and interest on the obligations.
(b) When making the certification required by Subsection (a), the board shall, if necessary and for $1, convey the title of the equipment or building, including any real property, to the commission or the appropriate state agency.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle B - Provisions Applicable to Securities Issued by State Government
Chapter 1232 - Texas Public Finance Authority
Subchapter D. Lease and Conveyance of Property by Authority
Section 1232.201. Rent and Fees
Section 1232.202. Contracts Contingent on Legislative Appropriations
Section 1232.203. Lease of Space for Child Care Facility
Section 1232.204. Leasing Preference