Texas Transportation Code

§ 21.062 — LEASE OF LAND OR IMPROVEMENT

TN § 21.062Title 3. AVIATION · Ch. 21. ADMINISTRATION OF AERONAUTICS · Art. B. GENERAL POWERS AND DUTIES

Statute text

(a)The department may lease land given to the department or an improvement on the land to any person if the department finds after investigation that:

(1)the lease is desirable or essential:

(A)to develop aeronautics for the common good and safety of the residents of this state; or

(B)to provide for catastrophe, disaster, or state or national emergency;

(2)the lessee is financially responsible; and

(3)the amount of periodic rental payments is at least equal to the amount that the department has spent for improvements on the land, amortized over the term of the lease.

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Legislative history

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.