Sec. 60.042. AWARD AND EXECUTION OF DEED OR LEASE IN EXCESS OF 50 YEARS. (a) After notice is published under Section 60.040, the district may sell or lease in accordance with that section all or any part of the real property to the highest and best bidder for an amount which is not less than the reasonable market value in the locality at the time and place of the sale or lease.
(b) The commission shall adopt a resolution or order confirming the sale or lease. The resolution or order shall include or incorporate by reference the terms of the sale or lease and the consideration and shall provide that the executive director of the district, or a person authorized by the executive director of the district, is authorized to execute the deed or lease as soon as the successful bidder complies with the terms of the bid.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971. Amended by Acts 1993, 73rd Leg., ch. 23, Sec. 4, eff. April 6, 1993; Acts 2003, 78th Leg., ch. 588, Sec. 4, eff. June 20, 2003.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 427 (S.B. 1395), Sec. 5, eff. June 1, 2017.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 60 - Navigation Districts--General Provisions
Subchapter C. Additional Powers and Duties of Certain Districts
Section 60.031. Application of Subchapter
Section 60.032. Authority to Construct Improvements
Section 60.033. Use of Equipment
Section 60.034. Oil, Gas, and Mineral Leases
Section 60.035. Notice of Certain Oil, Gas, and Mineral Leases
Section 60.036. Security for Bid on Oil, Gas, or Mineral Leases
Section 60.037. Award and Execution of Oil, Gas, and Mineral Leases
Section 60.038. Sale or Lease of Land
Section 60.0381. Conveyance of Land by Certain Navigation Districts
Section 60.040. Publication of Notice for Sales, Easements, and Leases in Excess of 50 Years
Section 60.041. Security for Bids on Real Property to Be Sold or Leased for More Than 50 Years
Section 60.042. Award and Execution of Deed or Lease in Excess of 50 Years