Sec. 341.006. LEASING OF STRUCTURE. (a) The individual, corporation, or association that owns a structure may lease the right-of-way over the structure to:
(1) a municipality for public utilities owned and operated by the municipality; or
(2) a corporation to construct railroad tracks to operate a steam or electric train or car.
(b) An individual, corporation, or association by leasing the right-of-way may not:
(1) obstruct or interfere with a pedestrian's or vehicle's use of the structure; or
(2) permit a monopoly.
(c) The commission may prescribe the terms of a lease to a railroad corporation.
(d) If approved by the commission, a corporation that leases the right-of-way over the structure may:
(1) contract with the individual, corporation, or association that owns the structure to pay all money due under the contract; and
(2) issue and sell bonds up to the amount of its obligation to the individual, corporation, or association.
(e) A railroad corporation that leases the right-of-way over the structure may only charge for the use of the tracks as a part of mileage according to statutory rates and the general laws of this state.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
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