(a) The park shall be developed as a public-private partnership in which both public institutions and private entities contribute to the development, funding, and operation of the park.
(b) Leases producing revenue to state institutions participating in the development of the park shall be at market rates.

Terms Used In Texas Government Code 488.006

  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
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