(a) A political subdivision shall obtain executive administrator approval of contract documents, including engineering plans and specifications, prior to receiving bids and awarding the contract. The contract documents shall be consistent with the engineering information submitted with the application and must contain the following:
  (1) provisions assuring compliance with the board's rules and all relevant statutes;
  (2) provisions providing for the political subdivision to retain a minimum of 5.0% of the progress payments otherwise due to the contractor until the building of the project is substantially complete and a reduction in retainage is authorized by the executive administrator;
  (3) a contractor's act of assurance form to be executed by the contractor which shall warrant compliance by the contractor with all laws of the State of Texas and all rules and published policies of the board; and
  (4) any additional conditions that may be requested by the executive administrator.
(b) After receiving bids, the political subdivision will submit for the executive administrator's approval the following documents:
  (1) a tabulation of all bids received and an explanation for any rejected bids or otherwise disqualified bidders;
  (2) one executed original copy of each construction contract;
  (3) evidence that the necessary acquisitions of land, leases, easements and rights-of-way have been completed or that the political subdivision has the legal authority to complete the acquisitions; and
  (4) other such instruments or documents as the board or executive administrator may require.

Source Note: The provisions of this §363.724 adopted to be effective August 8, 1996, 21 TexReg 7265