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Texas Government Code - GOV'T § 2167.056. Option to Purchase

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) If the commission considers it advisable, the commission may lease space for a state agency under a contract that contains an option for the commission to purchase the space subject to the legislature's appropriation of money for the purchase.

(b) A lease contract containing the option must indicate:

(1) the amount that will accumulate and be credited toward the purchase at various times during the lease term; and

(2) the purchase price of the property at the beginning of each fiscal biennium during the lease term.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 2167.056. Option to Purchase - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-2167-056/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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