Texas § TN.364.001 - AUTHORITY TO ACQUIRE TOLL BRIDGE

§ TN.364.001. AUTHORITY TO ACQUIRE TOLL BRIDGE

AUTHORITY TO ACQUIRE TOLL BRIDGE. (a) A county bordering the Rio Grande, acting through the commissioners court of the county, as a part of its road and bridge system may acquire a toll bridge by any method, including by: (1) construction; or (2) purchase of an entire toll bridge or only that part of the toll bridge that is located in this state. (b) The county is not required to: (1) hold an election to authorize the acquisition of a toll bridge under this chapter; (2) give or publish notice of its intent to acquire a toll bridge under this chapter; or (3) advertise or call for competitive bids in connection with the acquisition of a toll bridge under this chapter. (c) The county may acquire a toll bridge owned by a corporation by purchasing the toll bridge itself or by purchasing all of the capital stock of the corporation or a sufficient amount of the stock as required by law to dissolve and liquidate the corporation. The county may take title to the stock in the name of the county or in the name of a trustee for the county. After purchasing the stock, the county or its trustee shall: (1) vote its shares in the corporation as necessary to vest title to the toll bridge, together with any associated right or property described by Section 364.002 to be acquired in connection with the acquisition of the toll bridge, in the county; and (2) immediately dissolve and liquidate the corporation, pay its debts, liabilities, and obligations, wind up its business and affairs, and convey the properties to the county. (d) The purchase and acquisition of toll bridge property or stock in a corporation under this section must be made at the price and on the terms agreed on by the owners of the property or stock and the commissioners court. The commissioners court shall act under this subsection by appropriate resolution or order consistent with this chapter. (e) A county may not acquire a toll bridge under this chapter by eminent domain. Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.