Texas Local Government Code 281.050 – Acquisition of Land and Other Property
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(a) An authority may acquire land, materials, easements, rights-of-way, or other property considered necessary, incidental, or helpful to the accomplishment of a purpose stated in Section 281.044, including property considered necessary for the construction, improvement, extension, enlargement, operation, or maintenance of the authority’s facilities. An authority may acquire the property by gift, grant, purchase, or condemnation.
(b) An authority may acquire fee simple title to, or an easement on, public or private land located in or out of the authority’s boundaries. An authority may acquire title to, or an easement on, property that is not held in fee.
Terms Used In Texas Local Government Code 281.050
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: means real and personal property. See Texas Government Code 311.005
(c) An authority may lease property on terms the board considers advantageous to the authority.