Gavvy: Spec. Dist. Loc. Laws Code, Sec. 5002.003. Legislative Findings.

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Sec. 15.320. Lease Payments.

Sec. 15.320. LEASE PAYMENTS. In leasing a state facility for a term of years, the board shall require annual payments not less than the total of:

(1) the annual principal and interest requirements applicable to the debt incurred by the state in acquiring the facility; and

(2) the state's annual cost for operation, maintenance, and rehabilitation of the facility.

Added by Acts 1981, 67th Leg., 1st C.S., p. 102, ch. 12, Sec. 1, eff. Nov. 10, 1981.

Gavvy last updated this database on: Sep 6, 2024