Tex. Gov't Code Section 1503.154
Grant of Franchise

As additional security for the encumbrance, a municipality that encumbers an airport under Section 1503.153 (Encumbrance of Airport) may provide in the encumbrance for a grant, to the purchaser under sale or foreclosure, of a franchise to operate the airport and the improvements situated on the airport for a term not to exceed 30 years from the date of the purchase, subject to all laws regulating same then in force.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.023, eff. Sept. 1, 2001.

Source: Section 1503.154 — Grant of Franchise, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­1503.­htm#1503.­154 (accessed Dec. 9, 2023).

Dec. 9, 2023

§ 1503.154’s source at texas​.gov