Texas § TN.22.084 - AIRPORT REVENUE AND REVENUE BOND PROCEEDS

§ TN.22.084. AIRPORT REVENUE AND REVENUE BOND PROCEEDS

AIRPORT REVENUE AND REVENUE BOND PROCEEDS; CONTRACTING OPPORTUNITIES FOR MINORITY- AND WOMEN-OWNED BUSINESSES. (a) If constituent agencies or a nonprofit corporation created under Section 22.152 issues revenue bonds to finance the construction or acquisition of a facility or other improvement at an airport, the proceeds of the bonds and any other airport income or revenue may be spent on projects for which the proceeds, income, or revenue may otherwise be spent. An agreement may be made to spend all or a portion of the proceeds, income, or revenue for the planning, construction, or acquisition of facilities authorized by Sections 22.011 (a)-(c) and 22.012 without inviting, advertising for, or otherwise requiring competitive bids. A contract wholly or partly funded with proceeds, income, or revenue under this subsection shall be let in accordance with the joint board's rules and policies relating to creation of contracting opportunities for minority- and women-owned businesses. (b) This section does not apply to a contract to be paid: (1) from the proceeds of bonds unless the bonds from which the particular proceeds derive provide that they may not be repaid in any circumstances from ad valorem taxes; or (2) wholly or partly from ad valorem taxes. Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.