Terms Used In Texas Water Code Chapter 152 > Subchapter G - Electric Transmission Services and Facilities of River Authority

• 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.
• Year: means 12 consecutive months. See Texas Government Code 311.005