Texas Transportation Code 203.111 – Lease for Parking Purposes
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(a) The commission may lease for parking purposes real property beneath an elevated section of a freeway located on real property for which the commission holds the title and property rights.
(b) Revenue from a lease under this section shall be used for general governmental purposes.
Terms Used In Texas Transportation Code 203.111
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(c) In this section, “freeway” has the meaning assigned by § 203.064.