Texas Government Code 1509.001 – Authority to Acquire Property for Lease to Public or Private Entity
Current as of: 2024 | Check for updates
|
Other versions
(a) A municipality may acquire land and may construct or acquire a building or other facility for the purpose of leasing the land, building, or other facility to:
(1) a political subdivision or state agency for public use;
(2) an individual, private corporation, or other private entity for use in manufacturing or another commercial activity; or
(3) if the municipality is a defense community as defined by § 397.001, Local Government Code, the federal government to enhance the military value of a military facility located in or near the defense community.
(b) A municipality may not acquire land under Subsection (a) by eminent domain.
Terms Used In Texas Government Code 1509.001
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.