By: Watson S.B. No. 1349

A BILL TO BE ENTITLED

AN ACT

relating to authorizing the sale of certain real property by the Texas Facilities Commission on behalf of the state.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. (a) Subject to Subsections (b), (c), and (d) of this section, the Texas Facilities Commission on behalf of the state may convey the real property described by Section 2 of this Act.

(b) The real property described by Section 2 of this Act may not be conveyed by the Texas Facilities Commission on behalf of the state for an amount less than the fair market value of the real property. The fair market value of the real property must be established by an independent appraisal obtained by the asset management division of the General Land Office.

(c) The General Land Office shall negotiate and close a transaction under this section on behalf of the Texas Facilities Commission under Section 31.158, Natural Resources Code.

(d) The sale of the real property authorized by this section must comply with 26 C.F.R. Sections 1.141-12(a), (b), (c), and (e). This subsection prevails to the extent of any conflict between this subsection and any provision of this Act or any other law.

SECTION 2. The real property is situated in Travis County, Texas, and more particularly described as follows:

(i) the tracts or parcels of land described in Austin, Travis County, Texas, described in Exhibit I, attached hereto, including all improvements on or under the land and all Grantor's right, title and interest in and to adjacent streets, alleys and rights-of-way, and adjacent strips and gores of real estate, and all rights, titles, and interests appurtenant to the land and improvements;

(ii) all licenses and rights, if any, whether surface, subterranean, or aerial, pertinent to use of the land, improvements or personalty, including, without limitation, the licenses described in Exhibit II attached hereto and made a part hereof; subject to zoning laws, regulations and ordinances of municipal and other governmental authorities, if any, affecting the above described Property and all the exceptions described in Exhibit III attached hereto and made a part hereof, hereinafter called the "Permitted Exceptions."

EXHIBIT I

TRACT ONE:

Lots 1-12, Block 27, of the Original City of Austin, in Travis County, Texas, according to the map or plat of the Original City filed in the General Land Office of the State of Texas, together with the adjoining alley, vacated in Vol. 4026, Page 1564, of the Deed Records of Travis County, Texas. Said Lots 7-12, also known as the Resubdivision of North Half of Block 27, a subdivision in Travis County, Texas, according to map or plat of record in Volume 3, Page 47, of the Plat Records of Travis County, Texas, and being the same property more fully described in the attached Exhibit I-A.

EXHIBIT I-A

METES AND BOUNDS DESCRIPTION

BEING ALL OF BLOCK 27 OF THE ORIGINAL CITY OF AUSTIN, AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:

BEGINNING at an "X" found cut in concrete at the intersection of the south r.o.w. line of West 4th Street with the east r.o.w. line of Guadalupe Street for the northwest corner and PLACE OF BEGINNING hereof;

THENCE with the south r.o.w. line of West 4th Street, S 70° 56' 34" E 277.20 feet to an "X" found cut in concrete for the northeast corner hereof;

THENCE with the west r.o.w. line of Lavaca Street, S 18° 58' 53" W 276.48 feet to a punch hole set in the concrete surface of a trap door for the southeast corner corner;

THENCE with the north r.o.w. line of West 3rd Street, N 70° 57' 34" W 277.42 feet to a concrete nail set in concrete for the southwest corner hereof;

THENCE with the east r.o.w. line of Guadalupe Street, N 19° 01' 37" E 276.56 feet to the PLACE OF BEGINNING and containing 1.76 acres of land, more or less.

EXHIBIT II

License Agreement dated February 11, 1983, by and between the City of Austin, Licensor and John P. Watson, Trustee, Licensee of record in Volume 8039, Page 113, and in Volume 8027, Page 572, of the Deed Records of Travis County, Texas, said agreement having been modified by instrument recorded in Volume 8304, Page 865, Real Property Records of Travis County, Texas and having been transferred by instrument recorded in Volume 8632, Page 946, Real Property Records of Travis County, Texas. (Tract One).

EXHIBIT III

1. Sidewalk easement granted to the City of Austin, as described and located by instrument recorded in Volume 10027, Page 673, Real Property Records of Travis County, Texas. (Tract One)

2. All terms, conditions and provisions of that certain License Agreement dated February 11, 1983 by and between the City of Austin, Licensor and John P. Watson, Trustee, Licensee and recorded in Volume 8039, Page 113 and Volume 8027, Page 572 of the the Real Property Records of Travis County, Texas. Said agreement having been modified by instrument recorded in Volume 8304, Page 865, Real Property Records of Travis County, Texas. Said agreement having been transferred by instrument recorded in Volume 8632, Page 946, Real Property Records of Travis County, Texas. (Tract One)

3. Steps protruding into a portion of West Third Street and Lavaca Street and fire hydrant valve caps located in the extreme southerly corner of subject property as shown on survey dated November 16, 1990, revised December 20, 1990, prepared by James M. Grant, RPS. (Tract One)

4. Outside face of exterior wall of parking structure below grade protruding into Lavaca Street a maximum of 0.35 feet receeding to no protrusion along the East face of the exterior wall of the parking structure as shown on survey dated November 16, 1990, revised December 20, 1990, prepared by James M. Grant, RPS. (Tract One)

SECTION 3. This Act takes effect immediately if it receives a vote of two-thirds of all the members elected to each house, as provided by Section 39, Article III, Texas Constitution. If this Act does not receive the vote necessary for immediate effect, this Act takes effect September 1, 2019.