Tex. Gov't Code Section 1504.012
Term of Certain Leases

In a municipality with a population of one million or more, a lease entered into under Section 1504.001 (Authority for Certain Facilities) may have a term not to exceed 60 years if:

(1)

the lessee proposes to invest more than $20 million:

(A)

to renovate or redevelop an existing civic center building and facilities that are used in connection with and are located at or in the immediate vicinity of that building; or

(B)

to develop a new building or facilities on land administered, operated, or used as a civic center property; and

(2)

the governing body of the municipality finds that:

(A)

the renovated or redeveloped building and facilities or the new building or facilities will generate additional revenue for the municipality; and

(B)

a term that exceeds 30 years is necessary to enable the lessee to recoup its investment or to obtain financing for the project.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2003, 78th Leg., ch. 1253, Sec. 1, eff. June 20, 2003.

Source: Section 1504.012 — Term of Certain Leases, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­1504.­htm#1504.­012 (accessed Jun. 5, 2024).

1504.001
Authority for Certain Facilities 1504.002
Authority to Issue Revenue Bonds 1504.003
Pledge of Revenue 1504.004
Lien on Facility 1504.005
Bonds Not Payable from Taxes 1504.006
Contents of Ordinance Authorizing Bonds 1504.007
Adoption and Execution of Documents 1504.008
Maturity 1504.009
Signatures 1504.010
Sale of Bonds 1504.011
Investment of Bond Proceeds and Funds 1504.012
Term of Certain Leases 1504.013
Charges for Services 1504.014
Refunding Bonds 1504.015
Conflict or Inconsistency with Municipal Charter 1504.101
Applicability of Subchapter 1504.102
Authority for Auditoriums and Exhibition Facilities 1504.103
Authority to Issue Bonds, Notes, and Warrants 1504.104
Pledge of Revenue 1504.105
Obligations Not Payable from Taxes 1504.106
Election 1504.107
Operating Expenses as First Lien 1504.108
Charges for Services 1504.109
Use of Revenue for Other Purposes Prohibited 1504.110
Records 1504.111
Annual Report 1504.112
Offense 1504.113
Civil Enforcement 1504.201
Applicability of Subchapter 1504.202
Authority for Exposition and Convention Halls 1504.203
Authority to Issue Bonds, Notes, and Warrants 1504.204
Pledge of Income 1504.205
Obligations Not Payable from Taxes 1504.206
Operating Expenses as First Lien 1504.207
Charges for Services 1504.208
Use of Income for Other Purposes Prohibited 1504.209
Management and Control 1504.210
Trustee 1504.211
Receiver 1504.212
Notice to Governing Body Before Foreclosure or Other Action 1504.251
Applicability of Subchapter 1504.252
Authority for Cultural and Parking Facilities 1504.253
Authority to Issue Revenue Bonds 1504.254
Pledge of Revenue 1504.255
Lien on Facility 1504.256
Pledge of Mixed Beverage Tax Receipts 1504.257
Shortage of Mixed Beverage Tax Receipts 1504.258
Additional Use of Mixed Beverage Tax Receipts 1504.259
Bonds Not Payable from Taxes 1504.260
Contents of Ordinance Authorizing Bonds 1504.261
Adoption and Execution of Documents 1504.262
Signatures 1504.263
Sale of Bonds 1504.264
Interim Receipts 1504.265
Use of Bond Proceeds 1504.266
Charges for Services 1504.267
Use of Revenue 1504.268
Conflict or Inconsistency with Municipal Charter
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Accessed:
Jun. 5, 2024

§ 1504.012’s source at texas​.gov