By:  Madla                                             S.B. No. 340
                                A BILL TO BE ENTITLED
                                       AN ACT
 1-1     relating to the conveyance of property by a municipality to a
 1-2     municipally created development corporation.
 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-4           SECTION 1.  Chapter 253, Local Government Code, is amended by
 1-5     adding Section 253.009 to read as follows:
 1-6           Sec. 253.009.  CONVEYANCE OF ADJOINING PROPERTY TO MUNICIPAL
 1-7     DEVELOPMENT CORPORATION.  (a)  A municipality may convey to a
 1-8     municipally created economic development corporation, including a
 1-9     development corporation organized under the Development Corporation
1-10     Act of 1979 (Article 5190.6, Vernon's Texas Civil Statutes), real
1-11     property that has been conveyed by gift to the municipality or
1-12     conveyed to the municipality as part of a legal settlement and that
1-13     is adjacent to an area designated for development by the
1-14     corporation.
1-15           (b)  A municipality may convey property under Subsection
1-16     (a)  for any fair consideration approved by the governing body of
1-17     the municipality.  For a conveyance under this section to be
1-18     effective, the governing body must adopt an ordinance that:
1-19                 (1)  describes the property to be conveyed;
1-20                 (2)  requires the conveyance to comply with the
1-21     requirements of Section 5.022, Property Code, except a covenant of
1-22     general warranty is not required; and
1-23                 (3)  states the consideration paid.
1-24           (c)  A municipality may convey the property under this
 2-1     section without complying with the other notice or bidding
 2-2     requirements prescribed by other law, including Section 272.001.
 2-3           SECTION 2.  The importance of this legislation and the
 2-4     crowded condition of the calendars in both houses create an
 2-5     emergency and an imperative public necessity that the
 2-6     constitutional rule requiring bills to be read on three several
 2-7     days in each house be suspended, and this rule is hereby suspended,
 2-8     and that this Act take effect and be in force from and after its
 2-9     passage, and it is so enacted.