Texas § 252.050 LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY.

Texas Statutes

§ 252.050 — LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY.

Texas § 252.050

Code LGLocal Government Code

This text of Texas § 252.050 (LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Local Government Code Code Ann. § 252.050 (2026).

Text

Sec. 252.050. LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY.

(a)This section applies only to a lease-purchase or installment purchase of real property financed by the issuance of certificates of participation.

(b)The governing body of a municipality may not make an agreement under which the municipality is a lessee in a lease-purchase of real property or is a purchaser in an installment purchase of real property unless the governing body first obtains an appraisal by a qualified appraiser who is not an employee of the municipality. The purchase price may not exceed the fair market value of the real property, as shown by the appraisal.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 252.050. LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY. (a) This section applies only to a lease-purchase or installment purchase of real property financed by the issuance of certificates of participation.
(b) The governing body of a municipality may not make an agreement under which the municipality is a lessee in a lease-purchase of real property or is a purchaser in an installment purchase of real property unless the governing body first obtains an appraisal by a qualified appraiser who is not an employee of the municipality. The purchase price may not exceed the fair market value of the real property, as shown by the appraisal.