Sec. 152.203. INDEPENDENT APPRAISAL. (a) Before a river authority may acquire property under Section 152.202(2) through the exchange of revenue bonds, notes, or other obligations, the authority must obtain a written appraisal of the property by an independent appraiser certifying that the property has a value equal to or greater than the par value of the bonds, notes, or other obligations.
(b) The river authority shall:
(1) maintain the appraisal on file as a public record; and
(2) file a copy of the appraisal with the Texas Commission on Environmental Quality.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. Amended by Acts 2003, 78th Leg., ch. 785, Sec. 55, eff. Sept. 1, 2003.
Last modified: September 28, 2016