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Texas Natural Resources Code - NAT RES § 161.175. Use of Fund to Pay Expenses Related to the Land

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The board may use money in the fund attributable to bonds that have been issued and sold to pay:

(1) expenses of surveying and monumenting the land and the tracts of land;

(2) the cost of constructing roads on the land or the tracts of land;

(3) legal fees, recordation fees, and advertising costs arising from the purchase and sale or resale of the land and the tracts of land;  and

(4) other similar costs necessary or incidental to the purchase and sale of land acquired by the board.

(b) These expenses shall be added to the price of the land when sold or resold by the board.

(c) The board may award a contract in an amount not to exceed $25,000 to purchase supplies, materials, services, and equipment for use by the board in connection with improvements to, repairs to, or maintenance of land and with roadways and improvements located on land that are undertaken by the board under this chapter to make the land more marketable or useable without the necessity of soliciting or obtaining competitive bids.  The board may not award a contract under this subsection in an amount that exceeds $25,000 without soliciting or obtaining competitive bids.

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Cite this article: FindLaw.com - Texas Natural Resources Code - NAT RES § 161.175. Use of Fund to Pay Expenses Related to the Land - last updated January 01, 2024 | https://codes.findlaw.com/tx/natural-resources-code/nat-res-sect-161-175/

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