Sec. 32.109. ACCEPTANCE AND REJECTION OF BIDS. (a) For each tract offered for sale, lease, or commitment to a contract for development, the board must accept the best bid submitted that meets the minimum requirements set by the board or by law or reject all bids.
(b) The minutes of the board shall reflect the acceptance or rejection of a bid.
Acts 1977, 65th Leg., p. 2380, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977. Amended by Acts 1993, 73rd Leg., ch. 897, Sec. 12, eff. Sept. 1, 1993.
Structure Texas Statutes
Chapter 32 - School Land Board
Subchapter D. Sale and Lease of Land
Section 32.101. Applicable Law
Section 32.105. Date for Opening Bids
Section 32.106. Description of Land
Section 32.107. Notice of Sale, Lease, and Contract for Development
Section 32.1072. Minimum Royalty, Bonus, and Rental
Section 32.1073. Fixing Royalty, Bonus, and Rental
Section 32.109. Acceptance and Rejection of Bids
Section 32.110. Special Sale Fee
Section 32.111. Issuance of Award or Lease
Section 32.112. Sale of Tax Foreclosure Property
Section 32.113. Exemption From Certain Real Estate Transaction Laws