Texas Special District Local Laws Code 5012.0106 – Lease of Authority Facilities
Current as of: 2024 | Check for updates
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Terms Used In Texas Special District Local Laws Code 5012.0106
- 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
- Property: means real and personal property. See Texas Government Code 311.005
A lease under Section 60.101, Water Code, may contain any provision the commission determines is advantageous to the authority, including a provision for:
(1) the sale of a leased property at the termination of the lease; and
(2) the management and operation of a leased property by the lessee.