Texas Local Government Code 507.104 – Contracts
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(a) Except as provided by Subsection (b), a spaceport development corporation may enter into:
(1) an agreement with any person; or
(2) an interlocal contract under Chapter 791, Government Code.
(b) A spaceport development corporation may not enter into a contract to operate a spaceport unless the agreement provides that the person contracting with the corporation assumes the corporation’s liability for a cause of action arising from environmental damage.
Terms Used In Texas Local Government Code 507.104
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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