Section 21.602 - Highway Asset to Be Leased(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.43 Tex. Admin. Code § 21.602
The provisions of this §21.602 adopted to be effective August 15, 2002, 27 TexReg 7177; Amended by Texas Register, Volume 40, Number 07, February 13, 2015, TexReg 721, eff. 2/18/2015