Sec. 370.315. PERFORMANCE AND PAYMENT BONDS AND SECURITY. Notwithstanding Chapter 2253, Government Code, an authority shall require any party to an agreement to operate or maintain a transportation project to provide performance and payment bonds or other forms of security, including corporate guarantee, in amounts considered by the authority to be adequate to protect the authority and to assure performance of all obligations to the authority and to subcontractors providing materials or labor for a transportation project.
Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.
Structure Texas Statutes
Subtitle G - Turnpikes and Toll Projects
Chapter 370 - Regional Mobility Authorities
Subchapter G. Participation in Financing, Construction, and Operation of Transportation Projects
Section 370.301. Department Contributions to Turnpike Projects
Section 370.302. Agreements to Construct, Maintain, and Operate Transportation Projects
Section 370.303. Agreements Between Authority and Governmental Entities
Section 370.304. Additional Agreements of Authority
Section 370.305. Comprehensive Development Agreements
Section 370.306. Process for Entering Into Comprehensive Development Agreements
Section 370.307. Confidentiality of Negotiations for Comprehensive Development Agreements
Section 370.308. Performance and Payment Security
Section 370.309. Ownership of Transportation Projects
Section 370.310. Liability for Private Obligations
Section 370.311. Terms of Private Participation
Section 370.312. Rules, Procedures, and Guidelines Governing Negotiating Process
Section 370.313. Participation on Certain Other Boards, Commissions, or Public Bodies