When something is fastened with a cord that's passed through eyelets, it's laced. While their formal dress boots have no fasteners, a horseback rider's laced field boots have ties on the front.
If a shoe or item of clothing has laces, you can describe it as laced. The word can also be used for other things that are intertwined: "He knelt his head over his laced fingers and prayed." Another meaning is "tainted" or "slightly colored," as when your hot chocolate is laced with peppermint syrup or the morning sky is laced with pink.