Texas Government Code 1431.012 – Restriction On Certain Contracts Payable From Proceeds of Notes
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(a) Except as provided by Subsection (b), a county must comply with the competitive bidding requirements of Subchapter C, Chapter 271, Local Government Code, in connection with a contract to be paid from the proceeds of anticipation notes issued for a purpose described by § 1431.004(a)(1)(A).
(b) Competitive bidding requirements do not apply to an anticipation note or other obligation issued under § 1431.015 for any authorized purpose.
Terms Used In Texas Government Code 1431.012
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.