Texas Government Code 1501.207 – Sale of District Property
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Terms Used In Texas Government Code 1501.207
- Property: means real and personal property. See Texas Government Code 311.005
A district may sell to a municipality, and the municipality may buy, district property only if the purchase price paid, when added to other applicable money of the district, is sufficient to provide for the payment of:
(1) all outstanding district bonds, including interest on the bonds to:
(A) the maturity dates of the bonds; or
(B) the dates the district sets for redemption of the bonds;
(2) any required redemption premium; and
(3) any applicable fee of the bank of payment.
