Sec. 271.903. COMMITMENT OF CURRENT REVENUE. (a) If a contract for the acquisition, including lease, of real or personal property retains to the governing body of a local government the continuing right to terminate at the expiration of each budget period of the local government during the term of the contract, is conditioned on a best efforts attempt by the governing body to obtain and appropriate funds for payment of the contract, or contains both the continuing right to terminate and the best efforts conditions, the contract is a commitment of the local government's current revenues only.
(b) In this section, "local government" means a municipality, county, school district, special purpose district or authority, or other political subdivision of this state.
Added by Acts 1993, 73rd Leg., ch. 104, Sec. 2, eff. May 7, 1993.
Structure Texas Statutes
Title 8 - Acquisition, Sale, or Lease of Property
Subchapter Z. Miscellaneous Provisions
Section 271.901. Procedure for Awarding Contract if Municipality or District Receives Identical Bids
Section 271.903. Commitment of Current Revenue
Section 271.905. Consideration of Location of Bidder's Principal Place of Business
Section 271.906. Reverse Auction Method of Purchasing
Section 271.907. Vendors That Meet or Exceed Air Quality Standards