Sec. 453.102.  ACQUIRING AND DISPOSING OF PROPERTY.  (a)  A transit department may acquire, hold, use, sell, lease, or dispose of property, including licenses, patents, rights, and other interests, necessary, convenient, or useful for the full exercise of any of its powers under this chapter.
(b)  The transit department may acquire property described in Subsection (a) in any manner, including by gift or devise.
(c)  An acquisition made or other action taken under Subsection (a) shall be in the name of the municipality that created the transit department.
(d)  A transit department may dispose of, by sale, lease, or other conveyance:
(1)  any property of the transit department not needed for the efficient operation and maintenance of the transit department system;  and
(2)  any surplus property not needed for its requirements or for the purpose of carrying out its powers under this chapter.
(e)  The lease of unneeded property under Subsection (c) must be consistent with the efficient operation and maintenance of the transit department system.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.