1-1 By: Barrientos S.B. No. 1446 1-2 (In the Senate - Filed March 12, 1999; March 15, 1999, read 1-3 first time and referred to Committee on State Affairs; 1-4 April 9, 1999, reported favorably by the following vote: Yeas 8, 1-5 Nays 0; April 9, 1999, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to authorizing the General Services Commission to convey 1-9 certain state-owned property to the City of Austin. 1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-11 SECTION 1. (a) The General Services Commission may convey, 1-12 on behalf of the state, the state's interest in the real property 1-13 described by Subsection (e) of this section to the City of Austin. 1-14 (b) The purchase and sale agreement relating to the 1-15 conveyance authorized by this section shall be for: 1-16 (1) cash consideration in an amount no less than equal 1-17 to the fair market value of the property as established by an 1-18 independent appraisal obtained by the General Services Commission; 1-19 (2) closing to occur at the mutual convenience of the 1-20 parties; and 1-21 (3) may require other terms and conditions negotiated 1-22 by the General Services Commission and the City of Austin. 1-23 (c) The General Services Commission may transfer the real 1-24 property only by a special warranty deed. 1-25 (d) Section 31.158, Natural Resources Code, does not apply 1-26 to the conveyance authorized by this section. 1-27 (e) The real property is described as: 1-28 All of that certain tract or parcel of land situated within the 1-29 city limits of Austin, Travis County, Texas, being approximately 1-30 275 feet east and west and 270 feet north and south, lying directly 1-31 east of Guadalupe St., north of Third St., south of West Fourth 1-32 St., and east of San Antonio St., commonly known and designated on 1-33 the official map of the City of Austin, as the Old Courthouse and 1-34 Jail Block, as provided by Chapter 60, Acts 41st Legislature 1-35 approved March 20, 1930, and being more particularly described by 1-36 metes and bounds as follows: BEGINNING at a 1/2" rebar found at the 1-37 intersection of the south r.o.w. line of West 4th Street with the 1-38 west r.o.w. line of Guadalupe Street for the northeast corner and 1-39 PLACE OF BEGINNING hereof; 1-40 THENCE with the west r.o.w. line of Guadalupe Street, S 19 00'12" W 1-41 276.61 feet to a 1/2" rebar found for the southeast corner hereof; 1-42 THENCE with the north r.o.w. line of West 3rd Street, N 70 59'47" W 1-43 279.03 feet to a 60D nail found in concrete for the southwest 1-44 corner hereof; 1-45 THENCE with the east r.o.w. line of San Antonio Street, N 18 59'20" 1-46 E 276.64 feet to a 1/2" rebar found for the northeast corner 1-47 hereof; 1-48 THENCE with the south r.o.w. line of West 4th Street, S 70 59'25" E 1-49 279.10 feet to the PLACE OF BEGINNING. 1-50 SECTION 2. The proceeds from the conveyance shall be 1-51 deposited in the state treasury and may be used only by the General 1-52 Services Commission for deposit into the interest and sinking fund 1-53 of the outstanding bonds related to the real property described in 1-54 Subsection (e), Section 1, of this Act in amounts sufficient to 1-55 defease said bonds. 1-56 SECTION 3. The importance of this legislation and the 1-57 crowded condition of the calendars in both houses create an 1-58 emergency and an imperative public necessity that the 1-59 constitutional rule requiring bills to be read on three several 1-60 days in each house be suspended, and this rule is hereby suspended, 1-61 and that this Act take effect and be in force from and after its 1-62 passage, and it is so enacted. 1-63 * * * * *