Texas Government Code 1506.153 – Contracts and Leases; Joint Development
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(a) A municipality may contract with any person to perform any function related to a facility described by § 1506.152(a).
(b) A municipality may lease a facility or other property described by § 1506.152(a) to any person on the terms approved by the governing body of the municipality, including the amounts of rental, revenue, and payments and the period of years.
Terms Used In Texas Government Code 1506.153
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
(c) A facility or other property described by § 1506.152(a) may be developed with another public or private development under an agreement with the owner of the development on the terms approved by the municipality. The municipality may include as a part of an agreement the provisions the municipality determines are appropriate for the use, lease, or sale of any part of the subsurface, or airspace above the surface, of the municipality’s property that the municipality determines is not necessary for the purposes of the facility or other property.