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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The individual, corporation, or association that owns a structure may lease the right-of-way over the structure to:
(1) a municipality for public utilities owned and operated by the municipality; or
(2) a corporation to construct railroad tracks to operate a steam or electric train or car.
(b) An individual, corporation, or association by leasing the right-of-way may not:
(1) obstruct or interfere with a pedestrian's or vehicle's use of the structure; or
(2) permit a monopoly.
(c) The commission may prescribe the terms of a lease to a railroad corporation.
(d) If approved by the commission, a corporation that leases the right-of-way over the structure may:
(1) contract with the individual, corporation, or association that owns the structure to pay all money due under the contract; and
(2) issue and sell bonds up to the amount of its obligation to the individual, corporation, or association.
(e) A railroad corporation that leases the right-of-way over the structure may only charge for the use of the tracks as a part of mileage according to statutory rates and the general laws of this state.
Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 341.006. Leasing of Structure - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-341-006/
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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