Texas Education Code 66.69 – Award of Lease
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(a) Except as otherwise provided in this subchapter, the board shall award a lease for each tract to the person offering the highest bid that includes the terms adopted by the board and consistent with this subchapter.
(b) The board may reject all bids for one or more tracts.
Terms Used In Texas Education Code 66.69
- 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
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) The commissioner shall execute a lease awarded by the board in conformance with this subchapter.