Texas § 263.105 CONDITIONS OF LEASE.

Texas Statutes

§ 263.105 — CONDITIONS OF LEASE.

Texas § 263.105

Code LGLocal Government Code

This text of Texas § 263.105 (CONDITIONS OF LEASE.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Local Government Code Code Ann. § 263.105 (2026).

Text

Sec. 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.

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Sec. 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.