Tex. Loc. Gov't Code § 263.105 · Subchapter C. LEASE OR SALE OF REAL PROPERTY FOR PRIVATELY OWNED HOTEL
CONDITIONS OF LEASE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A lease under this subchapter may initially be effective for the term of a mortgage covering the construction of the hotel and related facilities. The lease may provide to the parties constructing, owning, or operating the hotel or related facilities an option to renew the lease.
(b) The lease must be made on a competitive bid. Consideration for the lease may not be less than the fair market lease value of the property and air rights being leased.
(c) The parties to the lease mutually shall determine the other conditions of the lease.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.263.htm
- Text hash
- sha256 bb23f9fae95716a2ab92ea82b0ded9c58b7448829f58e6108fe7e8767e7049ec
- 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.