Tex. Spec. Dists. Code § 21.255

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 21.255 - Contractor's Bond

(a) A contractor shall execute a bond:

(1) in an amount determined by the board, not to exceed the contract price;

(2) payable to the district and approved by the board; and

(3) conditioned on the faithful performance of the contract.

(b) The bond must provide that a contractor pay to the district all damages sustained as a result of the contractor's default on the contract.

(c) The bond shall be deposited in the district's depository. A copy of the bond shall be kept in the district's office.

Tex. Spec. Dist. Loc. Laws § 21.255

Added by Acts 2007, 80th Leg., R.S., Ch. 920, Sec. 1.01, eff. 4/1/2009.