Sec. 601.040.  ACQUISITION OF REAL PROPERTY.  (a)  The municipality may acquire real property for a project or for building or improving a road leading to a project.
(b)  The municipality may close a road as is necessary or convenient for the purposes of this subchapter.
(c)  An authority may, at its own expense, acquire real property for a project in the name of the municipality by purchase or condemnation under the laws relating to the condemnation of land by the municipality.  The authority may, until it ceases to exist, use the property.
(d)  If an authority determines that real property is no longer required for a project, and the property was acquired at the expense of the municipality, the authority may give the use of the property to the municipality.  If the property was acquired at the expense of the authority, the authority may sell, lease, or otherwise dispose of the property and may use the proceeds for the purposes of this subchapter.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Renumbered from Local Government Code, Section 431.040 by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.76(d)(2), eff. April 1, 2009.