(a) A contract entered into in connection with or relating to the issuance, sale, or delivery of notes under Subchapter H, Chapter 404, or the administration of matters related to the notes, including the investment of note proceeds, is exempt from this chapter if, in the comptroller‘s sole discretion, the comptroller determines that compliance with § 2274.002 is likely to prevent:
(1) an issuance, sale, or delivery that is sufficient to address the general revenue cash flow shortfall forecast; or
(2) the administration of matters related to the notes.
(b) Before making a determination under Subsection (a), the comptroller must:
(1) survey potential respondents or bidders to a solicitation for a contract described by Subsection (a) to determine the number of qualified potential respondents or bidders that are able to provide the written verification required by § 2274.002; and
(2) evaluate the historical bidding performance of qualified potential bidders.