Tex. Transportation Code § 463.154
This is the official text of Tex. Transportation Code § 463.154, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 463.154. TRANSFER OF REAL PROPERTY IN STATION OR TERMINAL COMPLEX.
Official statutory text
(a) An authority may transfer to any person by any means, including sale or lease, an interest in real property in a station or terminal complex and may contract with respect to it, in accordance with the comprehensive service plan approved by the executive committee, and subject to terms:
(1) the executive committee finds to be in the public interest or necessary to carry out this section; and
(2) specified in the instrument transferring the title or right of use.
(b) A transfer must be at the fair value of the interest transferred considering the use designated for the real property in the authority's comprehensive service plan.
(1) the executive committee finds to be in the public interest or necessary to carry out this section; and
(2) specified in the instrument transferring the title or right of use.
(b) A transfer must be at the fair value of the interest transferred considering the use designated for the real property in the authority's comprehensive service plan.
Status: in_force · Read it on the official government site
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