Texas Transportation Code

§ 54.110 — REVIEW AND APPROVAL OF CONTRACTS RELATING TO REVENUE OBLIGATIONS

TN § 54.110Title 4. NAVIGATION · Part A. WATERWAYS AND PORTS · Ch. 54. HARBOR AND PORT FACILITIES IN CERTAIN MUNICIPALITIES · Art. C. OBLIGATIONS

Statute text

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(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.

Legislative history

Added by Acts 1999, 76th Leg., ch. 227, Sec. 20, eff. Sept. 1, 1999.