Tex. Loc. Gov't Code § 254.062 · Subchapter C. OBLIGATIONS
LEASE OR SALE OF ISLAND PROPERTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In connection with the issuance of revenue obligations, a municipality or board may lease, sublease, or sell island property to be constructed or acquired with the proceeds of the obligations.
(b) A lease, sublease, or contract of sale may contain any provision that the municipality or board considers advantageous.
(c) A lease, sublease, or contract of sale may provide for the lessee or purchaser of the island property to make payments in amounts adequate to pay the principal of and interest and premium on the obligations when they become due.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 9, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.254.htm
- Text hash
- sha256 6ab02792f4ee2614fa8fe232cd394beda25fa5178ffe5ce47fc4a3d1d5c8223c
- 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
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.