Section 152.203 - Independent Appraisal(a) Before a river authority may acquire property under Section 152.202(2) through the exchange of revenue bonds, notes, or other obligations, the authority must obtain a written appraisal of the property by an independent appraiser certifying that the property has a value equal to or greater than the par value of the bonds, notes, or other obligations.(b) The river authority shall: (1) maintain the appraisal on file as a public record; and(2) file a copy of the appraisal with the Texas Commission on Environmental Quality.Tex. Water Code § 152.203
Amended by Acts 2003, 78th Leg., ch. 785, Sec. 55, eff. 9/1/2003.