Sec. 51.503. APPRAISAL REQUIRED. (a) Before a grant is made under Section 51.501, an appraiser employed by the land office must appraise the effect of the improvement for which a grant is sought on the value of the permanent school fund property.
(b) If the appraiser finds that the improvement will increase the value of the real property in an amount at least equal to the amount the improvement will cost, the commissioner may authorize the disbursement of money to construct the improvement.
Added by Acts 2003, 78th Leg., ch. 1091, Sec. 31, eff. June 20, 2003.
Structure Texas Statutes
Subtitle D - Disposition of the Public Domain
Chapter 51 - Land, Timber, and Surface Resources
Section 51.501. Application for Grant
Section 51.502. Source of Grant Money
Section 51.503. Appraisal Required
Section 51.504. Evidence of Expenditure Required
Section 51.505. Improvements: Real Property of Permanent School Fund