Sec. 281.048.  CONSTRUCTION BIDS;  CONTRACTS;  BONDS.  (a)  To bid on proposed construction work, a person must submit to the board a written sealed bid and a certified or cashier's check drawn on a responsible bank in the state or a bidder's bond for at least two percent of the total amount of the bid.
(b)  The board shall open all the bids at the same time.  The board may reject any or all bids.
(c)  If the chosen bidder fails or refuses to enter into a proper contract with the authority or to furnish the bond required by Subsection (e), the bidder forfeits the amount of the check or bond that accompanied the bid.
(d)  A contract for construction work must be in writing and signed by the board and the contractor.  The authority shall keep the contract in its records and make the contract available for public inspection.
(e)  A person to whom a contract is let must execute good and sufficient performance and payment bonds in accordance with Chapter 2253, Government Code.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 76, Sec. 5.95(17), eff. Sept. 1, 1995.