Sec. 1431.012. RESTRICTION ON CERTAIN CONTRACTS PAYABLE FROM PROCEEDS OF NOTES. (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 Section 1431.004(a)(1)(A).
(b) Competitive bidding requirements do not apply to an anticipation note or other obligation issued under Section 1431.015 for any authorized purpose.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 929 (H.B. 3270), Sec. 5, eff. June 15, 2007.
Structure Texas Statutes
Subtitle H - Specific Authority for More Than One Type of Local Government to Issue Securities
Chapter 1431 - Anticipation Notes
Section 1431.002. Authority to Issue Anticipation Notes
Section 1431.003. Additional Authority of Counties and Certain Municipalities
Section 1431.004. Uses of Anticipation Note Proceeds
Section 1431.005. General Limitation
Section 1431.006. Limitation on Notes to Pay Expenses
Section 1431.007. General Sources of Payment
Section 1431.008. Ad Valorem Taxes as Source of Payment
Section 1431.010. Sale of Notes
Section 1431.011. Attorney General Approval of Certain Notes
Section 1431.012. Restriction on Certain Contracts Payable From Proceeds of Notes
Section 1431.013. Conflict With Other Laws
Section 1431.014. Certain Notes for Rural Economic Development
Section 1431.015. Certain Notes or Other Obligations for Emergency Financing