Texas Military Department to negotiate the release of state interests in Palo Pinto County property.
The bill authorizes the Texas Military Department to negotiate and finalize a transaction with the Palo Pinto County Livestock Association for the release of the state's reversionary interest and other interests in specified property. The Texas Military Department must determine the fair market value of the property and any related structures or installations. If the state has received the fair market value through the property's use for a fair, livestock show, and rodeo ground, the department may release the state's interests.
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