Tex. Transp. Code § 463.107

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

Section 463.107 - Duration Of Contracts

An authority may contract for payment with debt obligations and for performance and payments to extend longer than one fiscal year if the contract provides for the discharge of the authority's contractual obligations by any method, including:

(1) committing current year funds or cancellation charges; and

(2) making the contract subject to the future availability of funds.

Tex. Transp. Code § 463.107

Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 151,Sec. 1, eff. 5/24/2019.