Section 60.042 - Award and Execution of Deed or Lease in Excess of 50 Years(a) After notice is published under Section 60.040, the district may sell or lease in accordance with that section all or any part of the real property to the highest and best bidder for an amount which is not less than the reasonable market value in the locality at the time and place of the sale or lease.(b) The commission shall adopt a resolution or order confirming the sale or lease. The resolution or order shall include or incorporate by reference the terms of the sale or lease and the consideration and shall provide that the executive director of the district, or a person authorized by the executive director of the district, is authorized to execute the deed or lease as soon as the successful bidder complies with the terms of the bid.Amended by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 427,Sec. 5, eff. 6/1/2017.Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 539,Sec. 4, eff. 9/1/2015.Amended By Acts 2003, 78th Leg., ch. 588, Sec. 4, eff. 6/20/2003.Amended by Acts 1993, 73rd Leg., ch. 23, Sec. 4, eff. 4/6/1993 Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. 8/30/1971.