Texas Transportation Code 54.110 – Review and Approval of Contracts Relating to Revenue Obligations
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(a) If revenue obligations issued under this chapter state that they are secured in whole or in part by a pledge of the proceeds from a contract, including a lease contract, a copy of the contract and of the proceedings authorizing the contract must be submitted to the attorney general with the record relating to the issuance of the obligations.
(b) The approval by the attorney general of the obligations is approval of the contract.
Terms Used In Texas Transportation Code 54.110
- Contract: A legal written agreement that becomes binding when signed.
- Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
- Fraud: Intentional deception resulting in injury to another.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(c) After approval, the contract is incontestable except for forgery or fraud.