Sec. 466.102. LIQUIDATED DAMAGES; PERFORMANCE BOND. A contract for the acquisition or provision of facilities, supplies, equipment, materials, or services related to the operation of the lottery must provide for liquidated damages and a performance bond in an amount equal to the executive director's best available estimate of the revenue that would be lost if the contractor fails to meet deadlines specified in the contract.
Added by Acts 1993, 73rd Leg., ch. 107, Sec. 4.03(b), eff. Aug. 30, 1993. Amended by Acts 1995, 74th Leg., ch. 76, Sec. 6.12, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle E - Other Executive Agencies and Programs
Subchapter C. Procurement; Advertising
Section 466.1005. Procurements
Section 466.101. Procurement Procedures
Section 466.102. Liquidated Damages; Performance Bond
Section 466.103. Prohibited Contracts
Section 466.104. Assistance of Comptroller
Section 466.105. Applicability of Other Law
Section 466.106. Preference for Texas Businesses
Section 466.107. Minority Businesses
Section 466.108. Television Contracts