Texas Government Code 2167.055 – Contract for Lease of Space
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(a) In a contract by the commission for the lease of space under this chapter, the state, acting through the commission, is the lessee.
(b) A lease contract entered into under § 2167.053 or 2167.054 must reflect the provisions contained in the invitation for bids or request for proposals, the successful bid or proposal, and the award of the contract.
Terms Used In Texas Government Code 2167.055
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(c) A lease contract may:
(1) provide for an original term that does not exceed 10 years; and
(2) include options to renew for as many terms that do not exceed 10 years each as the commission considers to be in the state’s best interest.
(d) A lease contract that does not contain an option to renew may, on agreement of the parties, be renewed under terms to which all parties to the contract agree.
(e) A lease contract is contingent on the availability of money appropriated by the legislature to pay for the lease.
(f) The obligation of the lessor to provide lease space and of the commission to accept the space is binding on the execution of the lease contract.