Texas Transportation Code 228.152 – Discharge of Outstanding Bonded Indebtedness
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Terms Used In Texas Transportation Code 228.152
- 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
An agreement to lease, sell, or convey a toll project or system under Section 228.151 must provide for the discharge and final payment or redemption of the department’s outstanding bonded indebtedness for the project or system.