Texas § LG.252.050 - LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY
Full text of Texas The Texas Constitution § LG.252.050 — LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY, with citation guidance and answers to common questions.
§ LG.252.050. LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY
LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY. (a) This section applies only to a lease-purchase or installment purchase of real property financed by the issuance of certificates of participation. (b) The governing body of a municipality may not make an agreement under which the municipality is a lessee in a lease-purchase of real property or is a purchaser in an installment purchase of real property unless the governing body first obtains an appraisal by a qualified appraiser who is not an employee of the municipality. The purchase price may not exceed the fair market value of the real property, as shown by the appraisal. Added by Acts 1989, 71st Leg., 1st C.S., ch. 10, Sec. 2, eff. Oct. 18, 1989.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § LG.252.050
What does The Texas Constitution § LG.252.050 cover?
Section LG.252.050 ("LEASE-PURCHASE OR INSTALLMENT PURCHASE OF REAL PROPERTY") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § LG.252.050?
A common citation format is "The Texas Constitution § LG.252.050" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § LG.252.050 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.