(a) Except as otherwise provided by this chapter, the board may award a contract involving the expenditure of funds in excess of the amount applicable to an expenditure of funds by a municipality under Section 252.021(a), Local Government Code, only by competitive bidding.
(b) Competitive bidding is not required:
(1) for a contract or expenditure exempt from competitive bidding under Section 252.022, Local Government Code, or another applicable law;
(2) for a contract for:
(A) personal or professional services;
(B) a real estate transaction;
(C) operation of a port improvement or facility under a specific agreement for a limited term; or
(D) insurance; or
(3) if the board determines that the delay posed by the competitive bidding procedure would prevent or substantially impair the operation of a port.