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Tex. Transp. Code § 463.107

DURATION OF CONTRACTS

Added by Acts 2019, 86th Leg., R.S., Ch. 151 (H.B. 71), Sec. 1, eff

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.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.