76R12899 MCK-D By Maxey, Krusee, Dukes, Greenberg, H.B. No. 3419 Naishtat Substitute the following for H.B. No. 3419: By Walker C.S.H.B. No. 3419 A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to authorizing the General Services Commission to convey 1-3 certain state-owned property to the City of Austin. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. (a) The General Services Commission may convey, 1-6 on behalf of the state, the state's interest in the real property 1-7 described by Subsection (e) of this section to the City of Austin. 1-8 (b) Consideration for the conveyance authorized by this 1-9 section must be in cash in an amount not less than the fair market 1-10 value of the property as established by an independent appraisal 1-11 obtained by the General Services Commission. The purchase and sale 1-12 agreement relating to the conveyance must provide for the closing 1-13 to occur at the mutual convenience of the parties and may contain 1-14 other terms negotiated by the General Services Commission and the 1-15 City of Austin. 1-16 (c) The General Services Commission may transfer the real 1-17 property only by a special warranty deed. 1-18 (d) Section 31.158, Natural Resources Code, does not apply 1-19 to the conveyance authorized by this section. 1-20 (e) The real property authorized for conveyance by this 1-21 section consists of the real property described as follows: 1-22 All of that certain tract or parcel of land situated within the 1-23 city limits of Austin, Travis County, Texas, being approximately 1-24 275 feet east and west and 270 feet north and south, lying directly 2-1 west of Guadalupe St., north of Third St., south of West Fourth 2-2 St., and east of San Antonio St., commonly known and designated on 2-3 the official map of the City of Austin, as the Old Courthouse and 2-4 Jail Block, as provided by Chapter 60, Acts 41st Legislature 2-5 approved March 20, 1930, and being more particularly described by 2-6 metes and bounds as follows: BEGINNING at a 1/2" rebar found at 2-7 the intersection of the south r.o.w. line of West 4th Street with 2-8 the west r.o.w. line of Guadalupe Street for the northeast corner 2-9 and PLACE OF BEGINNING hereof; 2-10 THENCE with the west r.o.w. line of Guadalupe Street, S 19 00'12" W 2-11 276.61 feet to a 1/2" rebar found for the southeast corner hereof; 2-12 THENCE with the north r.o.w. line of West 3rd Street, N 70 59'47" W 2-13 279.03 feet to a 60D nail found in concrete for the southwest 2-14 corner hereof; 2-15 THENCE with the east r.o.w. line of San Antonio Street, N 18 59'20" 2-16 E 276.64 feet to a 1/2" rebar found for the northeast corner 2-17 hereof; 2-18 THENCE with the south r.o.w. line of West 4th Street, S 70 59'25" E 2-19 279.10 feet to the PLACE OF BEGINNING. 2-20 SECTION 2. The General Services Commission shall deposit the 2-21 proceeds from the conveyance authorized by this Act in the state 2-22 treasury to the credit of an interest and sinking fund account. 2-23 The funds shall be used only by the General Services Commission for 2-24 repayment of the outstanding bonds related to the real property 2-25 described by Section 1(e) of this Act. 2-26 SECTION 3. The importance of this legislation and the 2-27 crowded condition of the calendars in both houses create an 3-1 emergency and an imperative public necessity that the 3-2 constitutional rule requiring bills to be read on three several 3-3 days in each house be suspended, and this rule is hereby suspended, 3-4 and that this Act take effect and be in force from and after its 3-5 passage, and it is so enacted.