AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Under current law, a check or bond accompanying a bid submitted on land to be sold by the Aransas County Navigation District (district) must equal the total asking price for the land. This requirement has created difficulty for the district and potentially limits the number and amounts of bids offered. H.B. 2792 allows the district's navigation and canal commission to determine the amount of the check or bond a bidder must submit with a bid to purchase land.
H.B. 2792 amends current law relating to the power of the Aransas County Navigation District to determine the amount of a check or bond necessary to purchase land from the district.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Subchapter C, Chapter 5001, Special District Local Laws Code, by adding Section 5001.102, as follows:
Sec. 5001.102. SECURITY FOR BIDS ON LAND TO BE SOLD. Authorizes the navigation and canal commission of the Aransas County Navigation District (commission; district), notwithstanding Section 60.041 (Security for Bids on Land to be Sold or Leased for More Than 30 Years), Water Code, to determine the amount of the check or bond a bidder is required to submit with a bid to purchase land from the district to guarantee that the bidder will perform the terms of the purchase bid if it is accepted by the commission.
SECTION 2. Effective date: upon passage or September 1, 2011.