Texas Health and Safety Code 262.032 – Sale of Property to Political Subdivision
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(a) The authority may sell property to a political subdivision for the fair market value of the property.
(b) The board must publish a notice of its intention to sell, a description of the property, and the scheduled date of sale in one or more newspapers of general circulation in the authority once a week for two consecutive weeks. The first notice must be published not later than the 15th day before the scheduled sale date.
Terms Used In Texas Health and Safety Code 262.032
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Property: means real and personal property. See Texas Government Code 311.005
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- Week: means seven consecutive days. See Texas Government Code 311.005
(c) A petition requesting an election on the question of the sale, signed by at least 10 percent of the qualified voters residing in the authority, may be presented to the secretary or president of the board before the scheduled sale date.
(d) The board shall order the election on receiving the petition. If no petition is filed, the board may sell the property without an election or may order an election on its own motion. The order must contain the same information contained in the notice of the election under Subsection (f).
(e) § 41.001(a), Election Code, requiring elections to be held on uniform election dates, does not apply to the election.
(f) In addition to the contents of the notice required by the Election Code, the notice must state the names of the presiding judge, alternate judge, and clerks for each polling place. The board shall publish notice of the election in one or more newspapers of general circulation in the authority once a week for two consecutive weeks. The first notice must be published not later than the 31st day before election day.
(g) The ballot shall be printed to provide for voting for or against the proposition: “The sale of ______ by the ____________ Hospital Authority.”
(h) If a majority of qualified voters who vote in the election favor the sale, the board may sell the property.