By: Ogden S.B. No. 515
Line and page numbers may not match official copy.
Bill not drafted by TLC or Senate E&E.
A BILL TO BE ENTITLED
AN ACT
1-1 relating to state highway improvement contracts for which a
1-2 performance bond is required.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 223.006, Transportation Code, is amended
1-5 to read as follows:
1-6 Sec. 223.006. CONTRACTOR'S BOND. A successful bidder under
1-7 this subchapter shall post a bond [in an amount provided by law]
1-8 conditioned on the faithful compliance with the bidder's bid and
1-9 performance of the contract and made payable to the department for
1-10 the use and benefit of the state highway fund. The provisions of
1-11 Chapter 2253, Government Code, apply to a bond required by this
1-12 section except that the department shall require a successful
1-13 bidder to post a performance bond if the contract is in excess of
1-14 $25,000.
1-15 SECTION 2. This Act takes effect September 1, 1999, and
1-16 applies only to a contract entered into on or after that date. A
1-17 contract entered into before the effective date of this Act is
1-18 governed by the law in effect when the contract was entered into,
1-19 and the former law is continued in effect for that purpose.
1-20 SECTION 3. The importance of this legislation and the
1-21 crowded condition of the calendars in both houses create an
1-22 emergency and an imperative public necessity that the
2-1 constitutional rule requiring bills to be read on three several
2-2 days in each house be suspended, and this rule is hereby suspended.