Sec. 505.1041. APPRAISAL REQUIRED BEFORE PURCHASE OF PROPERTY WITH BOND PROCEEDS. A Type B corporation may not purchase property for a project wholly or partly with bond proceeds until the corporation obtains an independent appraisal of the property's market value.
Added by Acts 2011, 82nd Leg., R.S., Ch. 719 (H.B. 782), Sec. 2, eff. September 1, 2011.
Structure Texas Statutes
Title 12 - Planning and Development
Chapter 505 - Type B Corporations
Subchapter C. Powers and Duties
Section 505.101. Applicability of Other Law; Conflicts
Section 505.102. Contract With Other Private Corporation
Section 505.103. Limitation on Use of Revenues for Promotional Purposes
Section 505.104. Bond Repayment
Section 505.1041. Appraisal Required Before Purchase of Property With Bond Proceeds