Sec. 463.154. TRANSFER OF REAL PROPERTY IN STATION OR TERMINAL COMPLEX. (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.
Added by Acts 2019, 86th Leg., R.S., Ch. 151 (H.B. 71), Sec. 1, eff. May 24, 2019.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 463 - Regional Transit Authorities
Subchapter D. Station or Terminal Complex Systems
Section 463.151. Station or Terminal Complex: System Plan
Section 463.152. Station or Terminal Complex: Facilities
Section 463.153. Station or Terminal Complex: Location
Section 463.1535. Approval of Municipality
Section 463.154. Transfer of Real Property in Station or Terminal Complex