Texas Administrative Code
Title 43 - TRANSPORTATION
Part 1 - TEXAS DEPARTMENT OF TRANSPORTATION
Chapter 21 - RIGHT OF WAY
Subchapter L - LEASING OF HIGHWAY ASSETS
Section 21.602 - Highway Asset to Be Leased
Universal Citation: 43 TX Admin Code § 21.602
Current through Reg. 50, No. 13; March 28, 2025
(a) The commission may authorize the lease of a highway asset if it finds that:
(1) the interest to be leased will not be needed for highway purposes during the period of the lease;
(2) the lease is for a purpose that is not inconsistent with the applicable highway use; and
(3) the lease will be economically beneficial to the department.
(b) The director may authorize the lease of a highway asset if:
(1) the director makes the findings required by subsection (a) of this section; and
(2) the term of the lease does not exceed two years, or the lease contains a cancellation clause by which the department, in its sole discretion, may terminate the lease with not more than two years notice.
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