Texas Education Code

§ 45.207 — AWARD OF CONTRACT

ED § 45.207Title 2. PUBLIC EDUCATION · Part I. SCHOOL FINANCE AND FISCAL MANAGEMENT · Ch. 45. SCHOOL DISTRICT FUNDS · Art. G. SCHOOL DISTRICT DEPOSITORIES

Statute text

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(a)A school district shall award the depository contract to the bank that submits the highest bid or the highest-ranked proposal, as determined under Subsection (c), except that the district may award the contract as provided by Subsection (a-1) if:

(1)the district:

(A)receives tying bids for the contract; or

(B)after evaluating the proposals for the contract, ranks two or more proposals equally;

(2)each bank submitting a tying bid or proposal has bid or proposed to pay the district the maximum interest rates allowed by law by the Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation; and

(3)the tying bids or proposals are otherwise equal in the judgment and discretion of the board of trustees of the district. (a-1) In the case of tying bids or proposals, the board of trustees may award the depository contract by:

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 322 (H.B. 2411), Sec. 3, eff. June 15, 2007.