Tex. Water Code § 60.041 · Subchapter C. ADDITIONAL POWERS AND DUTIES OF CERTAIN DISTRICTS
SECURITY FOR BIDS ON REAL PROPERTY TO BE SOLD OR LEASED FOR MORE THAN 50 YEARS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Each bid submitted on real property to be sold or leased for more than 50 years under Section 60.040 shall be accompanied by a certified check, cashier's check, or bidder's bond with a responsible corporate surety authorized to do business in Texas. The check or bond shall be in an amount equal to five percent of the bid price for the real property or 100 percent of the first rental payment under the lease and shall guarantee that the bidder will perform the terms of the bid if it is accepted by the district.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971. Amended by Acts 1993, 73rd Leg., ch. 23, Sec. 3, eff. April 6, 1993; Acts 2003, 78th Leg., ch. 588, Sec. 3, eff. June 20, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 539 (H.B. 1716), Sec. 3, eff. September 1, 2015.
Acts 2017, 85th Leg., R.S., Ch. 427 (S.B. 1395), Sec. 4, eff. June 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.60.htm
- Text hash
- sha256 4b6e4595dad673eef3798841436f82b496e9748dc441cc5f261678a0257cabf2
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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