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Texas Statutes (Last Updated: January 4, 2014) |
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LOCAL GOVERNMENT CODE |
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Title 8. ACQUISITION, SALE, OR LEASE OF PROPERTY |
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Subtitle B. COUNTY ACQUISITION, SALE, OR LEASE OF PROPERTY |
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Chapter 263. SALE OR LEASE OF PROPERTY BY COUNTIES |
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Subchapter C. LEASE OR SALE OF REAL PROPERTY FOR PRIVATELY OWNED HOTEL |
Sec. 263.106. SALE
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(a) The commissioners court of a county may sell land owned by the county and the air rights above the land to an individual or a private corporation or association if:
(1) all existing revenue bond obligations encumbering the land have been fully discharged as to bondholders;
(2) a hotel has been built on the land in conjunction with an existing convention center and the hotel has been operated continuously for at least five years from its inception;
(3) the parties to an existing lease of land mutually agree to the sale of the land and the air rights; and
(4) the county receives an amount for the land and air rights that is fair under the market conditions existing at the time of the sale.
(b) The commissioners court may impose deed restrictions or reverters to preserve the use of the land for a purpose consistent with the construction, expansion, ownership, and operation of a hotel and related facilities in conjunction with a convention center.
(c) A sale of land under this subchapter may include land appurtenant to the land on which the hotel or related facilities have been built.