Texas § WA.15.321 - SALE OR LEASE
Full text of Texas The Texas Constitution § WA.15.321 — SALE OR LEASE, with citation guidance and answers to common questions.
§ WA.15.321. SALE OR LEASE
SALE OR LEASE: CONDITION PRECEDENT. (a) No sale, transfer, or lease of a state facility is valid unless the board first makes the following affirmative findings: (1) that the applicant has a permit granted by the commission; (2) that the sale, transfer, or lease serves the public interest; and (3) that the consideration for the sale, transfer, or lease is fair, just, reasonable, and in full compliance with the law. (b) The consideration for a sale or transfer may be either money or revenue bonds which for the purposes of this section shall be deemed the same as money. (c) The amount of money shall be equal to the price for purchasing the facilities as prescribed by Sections 15.317-15.318 of this code, or if revenue bonds constitute the consideration, the principal amount of revenue bonds shall be equal to the price for purchasing the facilities as prescribed by the provisions of Sections 15.317-15.318 of this code, and the revenue bonds shall bear interest at the rate prescribed in Section 17.128 of this code with regard to bonds purchased with the proceeds of the Texas water development fund. Added by Acts 1981, 67th Leg., 1st C.S., p. 102, ch. 12, Sec. 1, eff. Nov. 10, 1981.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § WA.15.321
What does The Texas Constitution § WA.15.321 cover?
Section WA.15.321 ("SALE OR LEASE") 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 § WA.15.321?
A common citation format is "The Texas Constitution § WA.15.321" (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 § WA.15.321 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.