PARKING FACILITIES AUTHORIZED; OPERATION BY PRIVATE ENTITY; TAX EXEMPTION

(a) The district may acquire, lease as lessor or lessee, construct, develop, own, operate, and maintain parking facilities, including: (1) lots, garages, parking terminals, or other structures or accommodations for the parking of motor vehicles; and (2) equipment, entrances, exits, fencing, and other accessories necessary for safety and convenience in the parking of vehicles. (b) A parking facility of the district must be either leased to or operated on behalf of the district by a private entity or an entity other than the district. The district's parking facilities are a program authorized by the legislature under Section 52-a, Article III, Texas Constitution, and accomplish a public purpose under that section even if leased or operated by a private entity for a term of years. (c) The district's public parking facilities and any lease to a private entity are exempt from the payment of ad valorem taxes and state and local sales and use taxes.