Tex. Local Gov't Code Section 252.050
Lease-purchase or Installment Purchase of Real Property

(a)

This section applies only to a lease-purchase or installment purchase of real property financed by the issuance of certificates of participation.

(b)

The governing body of a municipality may not make an agreement under which the municipality is a lessee in a lease-purchase of real property or is a purchaser in an installment purchase of real property unless the governing body first obtains an appraisal by a qualified appraiser who is not an employee of the municipality. The purchase price may not exceed the fair market value of the real property, as shown by the appraisal.

Added by Acts 1989, 71st Leg., 1st C.S., ch. 10, Sec. 2, eff. Oct. 18, 1989.

Source: Section 252.050 — Lease-purchase or Installment Purchase of Real Property, https://statutes.capitol.texas.gov/Docs/LG/htm/LG.252.htm#252.050 (accessed Apr. 29, 2024).

252.001
Definitions 252.002
Municipal Charter Controls in Case of Conflict 252.003
Application of Other Law 252.021
Competitive Requirements for Purchases 252.022
General Exemptions 252.023
Exemptions from Referendum Provisions 252.024
Selection of Insurance Broker 252.041
Notice Requirement 252.042
Requests for Proposals for Certain Procurements 252.043
Award of Contract 252.044
Contractor’s Bond 252.045
Referendum on Issuance of Time Warrants 252.046
Circumstances in Which Current Funds to Be Set Aside 252.047
Payment Method for Certain Contracts 252.048
Change Orders 252.049
Confidentiality of Information in Bids or Proposals 252.050
Lease-purchase or Installment Purchase of Real Property 252.051
Appraisal Required Before Purchase of Property with Bond Proceeds 252.061
Injunction 252.062
Criminal Penalties 252.063
Removal 252.0215
Competitive Bidding in Relation to Historically Underutilized Business 252.0415
Procedures for Electronic Bids or Proposals 252.0435
Safety Record of Bidder Considered 252.0436
Contract with Person Indebted to Municipality

Accessed:
Apr. 29, 2024

§ 252.050’s source at texas.gov

Stay Connected

Join thousands of people who receive monthly site updates.

Get Legal Help

The State Bar of Texas runs a service for finding an attorney in good standing. Initial consultations are usually free or discounted: Lawyer Referral & Information Service (LRIS)

Committed to Public Service

We will always provide free access to the current law. In addition, we provide special support for non-profit, educational, and government users. Through social entrepreneurship, we’re lowering the cost of legal services and increasing citizen access.

Navigate

California:	Codes
Colorado:	C.R.S.
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

Location: https://texas.public.law/statutes/tex._local_gov't_code_section_252.050

Original Source: Section 252.050 — Lease-purchase or Installment Purchase of Real Property, https://statutes.capitol.texas.gov/Docs/LG/htm/LG.252.htm#252.050 (last accessed Apr. 29, 2024).