Perry denies improper dealings in land sale

Texas Governor Rick Perry has portrayed himself as one of the most financially transparent governors in Texas history. (AP Photo)

July 26, 2010 10:14:51 AM PDT
Gov. Rick Perry has denied that he did political favors or had improper business dealings with his investment in a Texas resort property. On Monday before speaking at a law enforcement conference, Perry addressed a Dallas Morning News report that he bought a lot at the Horseshoe Bay resort at below market value and later sold it for well above.

Perry says he believes he paid fair market value when he bought the lot in 2000 for about $300,000. Perry, who sold the lot for $1.15 million in 2007, says many people who sold land in that area at that time made a profit.

He says the deal was open, honest and transparent.

Last year Perry appointed the resort's vice president to the Texas State University's board of regents, but he denies it was a political favor.