79th Texas Legislature, Regular Session, House Bill 1740, Chapter 591 Page: 2 of 8
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H.B. No. 1740
1 of Special Award No. 1, dated May 22, 1944, save and except the
2 tract of land described in Section 4 of this Act, to the General
3 Land Office for the use and benefit of the Permanent School Fund,
4 and, solely if necessary under the terms of this Act, delivery of
5 additional consideration by the City of Aransas Pass, the
6 commissioner of the General Land Office shall convey on behalf of
7 the state the state's right, title, and interest in and to the
8 property described by Section 4 of this Act, subject to the mineral
9 and royalty reservation set forth in Section 1 of this Act.
10 SECTION 3. The commissioner of the General Land Office and
11 the City of Aransas Pass shall follow the procedures outlined in
12 this section. The tracts described in Sections 4 and 5 of this Act
13 shall be appraised by an appraiser acceptable to both the City of
14 Aransas Pass and the commissioner of the General Land Office, with
15 the cost of such appraisals paid by the General Land Office. In the
16 event that the City of Aransas Pass and the commissioner of the
17 General Land Office cannot agree on the market value of the tracts
18 described in Sections 4 and 5 of this Act, the City of Aransas Pass
19 and the commissioner of the General Land Office shall submit the
20 question of market value to a mutually acceptable mediator, with
21 the cost of the mediator paid by the General Land Office, who shall
22 determine the market value of the tracts described in Sections 4 and
23 5 of this Act. The mediator's determination of market value shall
24 be binding on both the City of Aransas Pass and the General Land
25 Office. In the event that the market value of the tract described
26 in Section 4 of this Act is determined to exceed the market value of
27 the tract described in Section 5 of this Act, the City of Aransas
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Texas. Legislature. House of Representatives. 79th Texas Legislature, Regular Session, House Bill 1740, Chapter 591, legislative document, June 17, 2005; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth156610/m1/2/: accessed June 1, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.