Sec. 262.031.  SALE OF PROPERTY;  GENERAL PROVISIONS.  (a)  The board may sell, through sealed bids or at a public auction, real property acquired by gift or purchase that the board determines is not needed for hospital purposes if the sale does not violate:
(1)  a trust indenture or bond resolution relating to outstanding bonds of the authority; 
(2)  prior restrictions placed on the use of the property;  or
(3)  an agreement between the authority and a nonprofit corporation under Chapter 223.
(b)  If the board conducts the sale by sealed bids, the board shall provide notice of the sale under Section 272.001, Local Government Code.
(c)  If the board conducts the sale by public auction, the board shall publish a notice of the sale once a week for three consecutive weeks in a newspaper of general circulation in each municipality in the authority.  The notice must include a description of the property and the date, time, and place of the auction.  The first notice must be published not later than the 21st day before the date of the auction.
(d)  This section does not affect the authority's powers under Chapter 223.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.