Texas Transportation Code

§ 223.250 — PERFORMANCE OR PAYMENT BOND

TN § 223.250Title 6. ROADWAYS · Part B. STATE HIGHWAY SYSTEM · Ch. 223. BIDS AND CONTRACTS FOR HIGHWAY PROJECTS · Art. F. DESIGN-BUILD CONTRACTS

Statute text

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(a)The department shall require a design-build contractor to provide:

(1)a performance and payment bond;

(2)an alternative form of security; or

(3)a combination of the forms of security described by Subdivisions (1) and (2).

(b)Except as provided by Subsection (c), a performance and payment bond, alternative form of security, or combination of the forms shall be in an amount equal to the cost of constructing or maintaining the project.

(c)If the department determines that it is impracticable for a private entity to provide security in the amount described by Subsection (b), the department shall set the amount of the security.

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Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 1345 (S.B. 1420), Sec. 34, eff. September 1, 2011.