Tex.
Gov't Code Section 2166.454
Purchasing or Obtaining More Favorable Lease with Option to Purchase Agreements with Regard to Certain Leased Space
(a)
This section and Sections 2166.4541 (Entering into More Favorable Lease with Option to Purchase Agreements) and 2166.4542 (Purchasing Certain Leased Space) apply only in relation to space currently occupied by a state agency under one of seven lease with an option to purchase agreements:(1)
entered into by the state before December 1994, for the benefit of the Texas Commission on Environmental Quality or its predecessor agency, the office of the attorney general, the successor of the Department of Human Services, the Department of Family and Protective Services, or the Texas Department of Transportation; and(2)
under which the state may acquire title to the space by paying the purchase price remaining under the terms of the agreement on September 1 of an odd-numbered year.(b)
If the commission determines that it is advantageous to the state, the commission may:(1)
request the Texas Public Finance Authority to issue revenue bonds to finance the purchase of any or all of the space to which this section applies in accordance with Section 2166.4542 (Purchasing Certain Leased Space) and Chapter 1232 (Texas Public Finance Authority), if the commission determines that it is more advantageous to the state to purchase the space than to enter into a more favorable lease with an option to purchase agreement under Section 2166.4541 (Entering into More Favorable Lease with Option to Purchase Agreements) for that space; or(2)
enter into a more favorable lease with an option to purchase agreement with regard to any or all of the space to which this section applies by taking the actions authorized by Section 2166.4541 (Entering into More Favorable Lease with Option to Purchase Agreements) under the conditions prescribed by Section 2166.4541 (Entering into More Favorable Lease with Option to Purchase Agreements), if the commission determines that it is more advantageous to the state to enter into a more favorable lease with an option to purchase agreement for that space than to purchase the space under Section 2166.4542 (Purchasing Certain Leased Space) and Chapter 1232 (Texas Public Finance Authority).(c)
This section expires September 2, 2008, except that this section is continued in effect after that date for the limited purpose of applying with regard to any transaction authorized by this section and Section 2166.4541 (Entering into More Favorable Lease with Option to Purchase Agreements) or 2166.4542 (Purchasing Certain Leased Space) that occurs before that date.
Source:
Section 2166.454 — Purchasing or Obtaining More Favorable Lease with Option to Purchase Agreements with Regard to Certain Leased Space, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2166.htm#2166.454 (accessed Jun. 5, 2024).
