Texas Transportation Code 431.110 – Competitive Bidding Exception for Certain Improvements
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Terms Used In Texas Transportation Code 431.110
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Any competitive bidding requirement or restriction on a local government that created a local government corporation does not apply to an expenditure by the local government corporation for:
(1) an improvement:
(A) that is constructed in a reinvestment zone; and
(B) the construction of which is managed by a private venture participant; or
(2) an improvement constructed by the corporation for which more than 50 percent of the construction is funded by a private entity.