A contract for the acquisition or provision of facilities, supplies, equipment, materials, or services related to the operation of the lottery must provide for liquidated damages and a performance bond in an amount equal to the executive director's best available estimate of the revenue that would be lost if the contractor fails to meet deadlines specified in the contract.
Tex. Gov't Code § 466.102
LIQUIDATED DAMAGES; PERFORMANCE BOND
Known as the State Lottery Act
The act spans §§ 466.001 to 466.453 (101 sections).
Added by Acts 1993, 73rd Leg., ch. 107, Sec. 4.03(b), eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.