Tex. Local Gov't Code Section 263.105
Conditions of Lease

(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.

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Source: Section 263.105 — Conditions of Lease, https://statutes.capitol.texas.gov/Docs/LG/htm/LG.263.htm#263.105 (accessed May 25, 2024).

263.001
Sale or Lease of Real Property 263.002
Abandoned Seawall or Highway Property 263.003
School Lands 263.004
Restrictions, Conditions, and Limitations 263.005
Use by Public Utility or Common Carrier 263.006
Exchange of Real Property 263.007
Sale or Lease of Real Property Through Sealed-bid Procedure 263.008
Broker Agreements and Fees for the Sale of Real Property 263.051
Airport Land 263.052
Certain Land, Housing, or Facilities Acquired from United States 263.054
Relinquishment of Abandoned Land 263.101
Application of Subchapter to Populous Counties 263.102
Lease 263.103
Creation of Encumbrance 263.104
Lending Credit 263.105
Conditions of Lease 263.106
Sale 263.107
Expenditure of Tax Funds 263.151
Definitions 263.152
Disposition 263.153
Notice 263.154
Rejection of Offer 263.155
Record 263.156
Proceeds 263.157
Title 263.158
Rules 263.201
Acquisition and Conveyance of Land for Water Projects 263.202
Conveyance for Public Building 263.203
Conveyance for Civil Works Project 263.204
Conveyance for Military Installation or Facility 263.205
Consideration 263.206
Assent to Grant of Easement 263.251
Sale or Lease of Advertising Space 263.1545
Broker Agreements for the Sale of Certain Surplus Property by Certain Counties

Accessed:
May 25, 2024

§ 263.105’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._local_gov't_code_section_263.105

Original Source: Section 263.105 — Conditions of Lease, https://statutes.capitol.texas.gov/Docs/LG/htm/LG.263.htm#263.105 (last accessed May 25, 2024).