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A BILL TO BE ENTITLED
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AN ACT
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relating to authorizing the lease or conveyance of certain real |
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property owned by Amarillo College. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. DEFINITION. In this Act, "college" means |
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Amarillo College. |
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SECTION 2. REAL PROPERTY DESCRIPTION. This Act applies to |
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the real property that is the subject of the Special Warranty Deed |
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appearing in Volume 3231, Pages 40-42, of the Deed Records of Potter |
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County, Texas, and is described as follows: |
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Any and all real property, and all improvements thereof or |
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thereon, owned by Amarillo College in Potter County, Texas, in |
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Sections 27, 28, 39, and 40, all in Block 2 of the Adams, Beaty and |
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Moulton Survey, Potter County, Texas, said tract being |
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approximately 1,500 acres, more or less. |
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SECTION 3. AUTHORIZATION FOR LEASE OR CONVEYANCE. |
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Notwithstanding any other law, on or after September 1, 2007, the |
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college, without limitations or conditions except those conditions |
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described by Section 4 of this Act, may lease or convey the real |
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property described by Section 2 of this Act or any portion of that |
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real property to any other party. |
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SECTION 4. CONDITIONS OF LEASE OR CONVEYANCE. (a) Cash |
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consideration received under a lease of or in a conveyance of the |
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property described by Section 2 of this Act may be used only to |
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accomplish a state public purpose, including furthering the |
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educational purposes of the college. |
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(b) If the college leases or conveys the real property described |
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by Section 2 of this Act for consideration other than cash, the |
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college shall enter into an agreement with the party to whom the |
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real property is being leased or conveyed that: |
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(1) requires the party to whom the real property is |
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leased or conveyed to use the property in a manner that serves a |
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state public purpose; and |
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(2) stipulates that possession or ownership of the |
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real property, as applicable, automatically reverts to the college |
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if the party to whom the real property is leased or conveyed uses |
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the property for a purpose other than one that serves a state public |
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purpose. |
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SECTION 5. RELEASE OF REVERSIONARY INTEREST. Simultaneous |
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to any conveyance described by Section 3 of this Act, the |
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reversionary interest held by the Texas State Technical College |
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System and established under Chapter 481, Acts of the 77th |
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Legislature, Regular Session, 2001, and the Special Warranty Deed |
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appearing in Volume 3231, Pages 40-42, of the Deed Records of Potter |
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County, Texas, is released only as to the real property conveyed or |
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leased. |
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SECTION 6. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |