A rural 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 rural 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 and all rules and published policies of the board; and
  (4) any additional information or conditions that may be requested by the executive administrator.

Source Note: The provisions of this §365.45 adopted to be effective January 1, 2002, 26 TexReg 11031; transferred effective February 15, 2020, as published in the January 24, 2020 issue of the Texas Register, 45 TexReg 593