Tex. Gov't Code § 1504.012 · Subchapter A. REVENUE BONDS FOR CERTAIN FACILITIES
TERM OF CERTAIN LEASES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In a municipality with a population of one million or more, a lease entered into under Section 1504.001 may have a term not to exceed 60 years if:
(1) the lessee proposes to invest more than $20 million:
(A) to renovate or redevelop an existing civic center building and facilities that are used in connection with and are located at or in the immediate vicinity of that building; or
(B) to develop a new building or facilities on land administered, operated, or used as a civic center property; and
(2) the governing body of the municipality finds that:
(A) the renovated or redeveloped building and facilities or the new building or facilities will generate additional revenue for the municipality; and
(B) a term that exceeds 30 years is necessary to enable the lessee to recoup its investment or to obtain financing for the project.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2003, 78th Leg., ch. 1253, Sec. 1, eff. June 20, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1504.htm
- Text hash
- sha256 99f9e57ed4f0de3f1629b84bcee53874b6378596b2a362823e5f4cf7b103efc9
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.