Sec. 54.110. REVIEW AND APPROVAL OF CONTRACTS RELATING TO REVENUE OBLIGATIONS. (a) If revenue obligations issued under this chapter state that they are secured in whole or in part by a pledge of the proceeds from a contract, including a lease contract, a copy of the contract and of the proceedings authorizing the contract must be submitted to the attorney general with the record relating to the issuance of the obligations.
(b) The approval by the attorney general of the obligations is approval of the contract.
(c) After approval, the contract is incontestable except for forgery or fraud.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle A - Waterways and Ports
Chapter 54 - Harbor and Port Facilities in Certain Municipalities
Section 54.102. Authority of Municipality to Issue Obligations
Section 54.104. Authority of Board to Issue Obligations
Section 54.105. Limitation on Aggregate Amount of Expense Warrants
Section 54.106. Maturity of Obligation
Section 54.108. Sale of Obligations
Section 54.110. Review and Approval of Contracts Relating to Revenue Obligations
Section 54.111. Security for and Payment of Obligations Payable From Revenue
Section 54.112. Use of Certain Proceeds
Section 54.113. Lease or Sale of Port Improvements and Facilities