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Texas Transportation Code - TRANSP § 21.062. Lease of Land or Improvement

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

(a) The department may lease land given to the department or an improvement on the land to any person if the department finds after investigation that:

(1) the lease is desirable or essential:

(A) to develop aeronautics for the common good and safety of the residents of this state;  or

(B) to provide for catastrophe, disaster, or state or national emergency;

(2) the lessee is financially responsible;  and

(3) the amount of periodic rental payments is at least equal to the amount that the department has spent for improvements on the land, amortized over the term of the lease.

(b) The department shall produce and maintain in the department's office a written statement of the findings required by Subsection (a).

(c) The department shall submit a lease entered into by the department to the attorney general for approval as to form before the lease becomes effective.

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Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 21.062. Lease of Land or Improvement - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-21-062/

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