Sec. 12.1283. SALE OF PROPERTY PURCHASED WITH STATE FUNDS. (a) After the agency receives title to property described by Section 12.128, the agency may sell the property at any price acceptable to the agency.
(b) On request of the agency, the following state agencies shall enter into a memorandum of understanding to sell property for the agency:
(1) for real property, the General Land Office; and
(2) for personal property, the Texas Facilities Commission.
(c) A memorandum of understanding entered into as provided by Subsection (b) may allow the General Land Office or Texas Facilities Commission to recover from the sale proceeds any cost incurred by the office or commission in the sale of the property.
(d) Subject to the satisfaction of any security interest or lien described by Section 12.128(e), proceeds from the sale of property under this section shall be deposited in the charter school liquidation fund.
(e) The commissioner may adopt rules as necessary to administer this section.
Added by Acts 2019, 86th Leg., R.S., Ch. 631 (S.B. 1454), Sec. 8, eff. June 10, 2019.
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