Section 46.004 - Lease-Purchase Agreements(a) A district may receive state assistance in connection with a lease-purchase agreement concerning an instructional facility. For purposes of this subchapter: (1) taxes levied for purposes of maintenance and operations that are necessary to pay a district's share of the payments under a lease-purchase agreement for which the district receives state assistance under this subchapter are considered to be bond taxes; and(2) payments under a lease-purchase agreement are considered to be payments of principal of and interest on bonds.(b) Section 46.003(b) applies to taxes levied to pay a district's share of the payments under a lease-purchase agreement for which the district receives state assistance under this subchapter.(c) A lease-purchase agreement must be for a term of at least eight years to be eligible to be paid with state and local funds under this subchapter.Amended by Acts 1999, 76th Leg., ch. 396, Sec. 1.25, eff. 9/1/1999.Added by Acts 1997, 75th Leg., ch. 592, Sec. 1.04, eff. 9/1/1997.