Texas · Texas Transportation Code

Tex. Transp. Code § 22.088: EXPENDITURE OF BOND REVENUE BY JOINT BOARD WITHOUT COMPETITIVE BIDDING

What this law says, in plain English

A joint board may spend revenue bond proceeds on airport furniture, fixtures, and equipment without competitive bidding if leased to a private entity obligated to cover all maintenance costs and rent payments sufficient to repay the bonds from non-tax revenue only.

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