Sec. 8509.0110. INTEREST IN CONTRACT. (a) A director who has a financial interest in a contract under consideration by the district for the purchase, sale, lease, rental, or supply of property, including supplies, materials, and equipment, or the construction of facilities, shall disclose that fact to the other directors and may not vote on or participate in discussions during board meetings on the acceptance of the contract.
(b) A director's financial interest does not affect the validity of a contract if disclosure is made and the director with the financial interest does not vote on the question of entering into the contract.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.03, eff. April 1, 2021.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle G - River Authorities
Chapter 8509 - Palo Duro Water District
Subchapter C. Board of Directors; Administrative Provisions
Section 8509.0101. Composition of Board; Terms
Section 8509.0102. Qualifications for Office
Section 8509.0106. Vote by Board President
Section 8509.0108. Director's and Treasurer's Bonds
Section 8509.0109. Compensation of Directors
Section 8509.0110. Interest in Contract
Section 8509.0111. Director Training Program
Section 8509.0112. Separation of Policymaking and Management Functions
Section 8509.0114. Negotiated Rulemaking and Alternative Dispute Resolution
Section 8509.0115. Public Comment Policy