Sec. 201.978. ACQUISITION AND DISPOSAL OF PROPERTY. (a) The department may acquire by purchase property or an interest in property necessary or convenient for one or more of the purposes for which obligations may be issued under Section 201.973(d).
(b) Property acquired under Subsection (a) may be used for any transportation purpose.
(c) Notwithstanding Chapter 202, the department may sell or lease property acquired under Subsection (a) that is no longer needed for a transportation purpose. Revenue from a sale or lease shall be deposited in the fund.
Added by Acts 2005, 79th Leg., Ch. 1070 (H.B. 1546), Sec. 1, eff. November 8, 2005.
Structure Texas Statutes
Subtitle A - Texas Department of Transportation
Chapter 201 - General Provisions and Administration
Subchapter O. Rail Relocation and Improvement
Section 201.972. Administration of Fund
Section 201.973. Authority to Issue Obligations; Purposes; Limitations
Section 201.974. Pledge of State's Full Faith and Credit
Section 201.975. Dedication of Revenue to Fund
Section 201.976. Investment and Uses of Money in Fund
Section 201.977. Strategic Plan
Section 201.978. Acquisition and Disposal of Property
Section 201.979. "Welcome to Texas" Signs
Section 201.980. Texas Flags at International Ports-of-Entry