Texas Water Code 16.189 – Lease Payments
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Terms Used In Texas Water Code 16.189
- 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
In leasing a state facility for a term of years, the board shall require payments that will recover over the lease period not less than the total of:
(1) all principal and interest requirements applicable to the debt incurred by the state in acquiring the facility; and
(2) the state’s cost for operation, maintenance, and rehabilitation of the facility.