Tex. Local Gov't Code Section 252.051
Appraisal Required Before Purchase of Property with Bond Proceeds

A municipality may not purchase property wholly or partly with bond proceeds until the municipality obtains an independent appraisal of the property’s market value.

Added by Acts 2011, 82nd Leg., R.S., Ch. 719 (H.B. 782), Sec. 1, eff. September 1, 2011.

Source: Section 252.051 — Appraisal Required Before Purchase of Property with Bond Proceeds, https://statutes.capitol.texas.gov/Docs/LG/htm/LG.252.htm#252.051 (accessed Jun. 5, 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:
Jun. 5, 2024

§ 252.051’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._local_gov't_code_section_252.051

Original Source: Section 252.051 — Appraisal Required Before Purchase of Property with Bond Proceeds, https://statutes.capitol.texas.gov/Docs/LG/htm/LG.252.htm#252.051 (last accessed Jun. 5, 2024).