Tex. Loc. Gov't Code § 116.059
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
The commissioners court shall investigate all real property security and determine the value at which the property will be accepted. The commissioners court may not accept real property as security at a value greater than 50 percent of the reasonable market value of the property covered by a mortgage unless the mortgage is insured or guaranteed by the Federal Housing Administration.
Tex. Loc. Gov't. Code § 116.059