(a) The district may not enter into a contract or agreement that requires the district or the people in the district to lose ownership of or control over the use of any district property, real, personal, or mixed, after payment of all outstanding legal obligations of the district, including bonds and refunding bonds.(b) A contract or agreement prohibited by this section, if entered into by the board, is void. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.12, eff. April 1, 2009.
Texas Legal Code