81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85 Page: 36 of 126
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S.B. No. 1540
1 (2) lease or purchase physical property, rights, and
2 franchises of any suburban or street railway corporation the
3 railway lines of which are to be operated in connection with the
4 interurban railway.
5 i b) The owner of physical property or a right or franchise
6 described by Subsection (a)(1) or (2) may sell or dispose of the
7 property, right, or franchise to the corporation making an
8 acquisition, lease, or purchase under Subsection (a).
9 (c) An acquisition or purchase under this section may be on
10 the terms:
11 (1) agreed to by the board of directors of each i
12 corporation; and
13 (2) authorized or approved by a majority of the
14 stockholders of each corporation. (V.A.C.S. Art. 6543 (part).)
15 Ii Sec. 131.033. MUNICIPAL CONSENT REQUIRED. (a) Before
16 selling property under this subchapter, a corporation that owns or
17 opeates a street car railway must obtain the consent of the
18 governing body of the municipality in which the street car line is
19 loa ted.
20 (b) This subchapter does not affect a charter provision of a
21 municipality that provides for the right of qualified voters of the
22 mniipality to vote on the granting or amending of franchise to a
22 Am ri A 6 (r
23 street or interurban railway. (V.A.C.S. Art. 6543 (part).)
24 Sec. 131.034. USE bF STREET RAILWAYS. A corporation
25 Authrized to construct, acquire, and operate an interurban railway
26 and corporation owning and operating a street railway may enter
27 intoIa trackage or lease contract to allow for continuous passage
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Texas. Legislature. Senate. 81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85, legislative document, May 20, 2009; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth310917/m1/36/: accessed April 28, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.