Texas § LG.501.153 - LEASE OR SALE OF PROJECT
Full text of Texas The Texas Constitution § LG.501.153 — LEASE OR SALE OF PROJECT, with citation guidance and answers to common questions.
§ LG.501.153. LEASE OR SALE OF PROJECT
LEASE OR SALE OF PROJECT. (a) A corporation may: (1) lease all or any part of a project to a user, for the rental and on the terms that the corporation's board of directors considers advisable and not in conflict with this subtitle; or (2) sell, by installment payments or otherwise, and convey all or any part of a project to a user for the purchase price and on the terms the corporation's board of directors considers advisable and not in conflict with this subtitle. (b) A corporation may grant a lessee an option to purchase all or any part of a project when all bonds of the corporation delivered to provide those facilities have been paid or provision has been made for the bonds' final payment. This subsection is procedurally exclusive for authority to convey or grant an option to purchase all or part of a project, and reference to another law is not required. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278 ), Sec. 3.01, eff. April 1, 2009.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § LG.501.153
What does The Texas Constitution § LG.501.153 cover?
Section LG.501.153 ("LEASE OR SALE OF PROJECT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § LG.501.153?
A common citation format is "The Texas Constitution § LG.501.153" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § LG.501.153 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.