Texas Education Code 109.161 – Extension of Leases
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Education Code 109.161
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
When in the discretion of the board it is deemed for the best interest of the state to extend a lease issued by the board, the board may by unanimous vote extend the lease for a period not to exceed three years, on the condition that the lessee shall continue to pay yearly rental as provided in the lease and shall comply with any additional terms the board requires. The board may extend the lease and execute an extension agreement.