Tex. Educ. Code Section 45.207
Award of Contract


(a)

A school district shall award the depository contract to the bank that submits the highest bid or the highest-ranked proposal, as determined under Subsection (c), except that the district may award the contract as provided by Subsection (a-1) if:

(1)

the district:

(A)

receives tying bids for the contract; or

(B)

after evaluating the proposals for the contract, ranks two or more proposals equally;

(2)

each bank submitting a tying bid or proposal has bid or proposed to pay the district the maximum interest rates allowed by law by the Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation; and

(3)

the tying bids or proposals are otherwise equal in the judgment and discretion of the board of trustees of the district.

(a-1)

In the case of tying bids or proposals, the board of trustees may award the depository contract by:

(1)

determining by lot which of the banks submitting the tying bids or proposals will receive the contract; or

(2)

awarding a contract to each of the banks submitting the tying bids or proposals.

(b)

The board of trustees may, during the period of the contract, determine the amount of funds to be deposited in each depository bank and determine the account services offered in the bid or proposal form that are to be provided by each bank in its capacity as school district depository. All funds received by the district from or through the agency shall be deposited, at the district’s option, in one depository bank or invested in a public funds investment pool created under Chapter 791 (Interlocal Cooperation Contracts), Government Code, to be designated by the district.

(c)

The board of trustees of the school district shall at a regular or special meeting consider in accordance with this subsection each bid or proposal received. In determining the highest and best bid or the highest-ranked proposal, or in case of tying bids or proposals the highest and best tying bids or proposals, the board of trustees shall consider:

(1)

the interest rate bid or proposed on time deposits;

(2)

charges for keeping district accounts, records, and reports and furnishing checks;

(3)

the ability of the bank submitting the bid or proposal to provide the necessary services and perform the duties as school district depository; and

(4)

any other matter that in the judgment of the board of trustees would be to the best interest of the school district.

(d)

The board of trustees of the school district has the right to reject any and all bids or proposals.
Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 322 (H.B. 2411), Sec. 3, eff. June 15, 2007.

Source: Section 45.207 — Award of Contract, https://statutes.­capitol.­texas.­gov/Docs/ED/htm/ED.­45.­htm#45.­207 (accessed Jun. 5, 2024).

45.001
Bonds and Bond Taxes
45.002
Maintenance Taxes
45.003
Bond and Tax Elections
45.004
Refunding Bonds
45.005
Examination of Bonds by Attorney General
45.006
Maintenance Tax Required for Judgment Ordering Ad Valorem Tax Refund
45.0011
Credit Agreements in Certain School Districts
45.0021
Restriction on Maintenance Tax Levy
45.0031
Limitation on Issuance of Tax-supported Bonds
45.031
Gymnasia, Stadia, and Other Recreational Facilities
45.032
Revenue Bonds
45.0032
Components of Maintenance and Operations Tax
45.033
Rentals, Rates, and Charges
45.034
Pledge of Revenues
45.035
Refunding Bonds
45.036
Examination of Bonds by Attorney General
45.051
Definitions
45.052
Guarantee
45.053
Limitation
45.054
Eligibility of School District Bonds
45.055
Application for Guarantee
45.056
Investigation
45.057
Guarantee Endorsement
45.058
Notice of Default
45.059
Payment of School District Bond on Default
45.060
Bonds Not Accelerated on Default
45.061
Reimbursement of Funds
45.062
Repeated Defaults
45.063
Rules
45.081
Definitions
45.082
Sale of Property
45.083
Other Laws Not Applicable
45.084
Contracts
45.085
Bond Requirements
45.086
Liberal Construction
45.087
Other Powers Unrestricted
45.101
Use of Bond Proceeds for Utility Connections
45.102
Investment of Bond Proceeds in Obligations of United States or Interest-bearing Secured Time Bank Deposits
45.103
Interest-bearing Time Warrants
45.104
Pledge of Delinquent Taxes as Security for Loan
45.105
Authorized Expenditures
45.106
Use of County Available Fund Apportionment for Area Schools Career and Technology Education
45.107
Investment of Gifts, Devises, and Bequests
45.108
Borrowing Money for Current Maintenance Expenses
45.109
Contracts for Athletic Facilities
45.110
Authorized but Unissued Bonds
45.111
Certificates of Indebtedness
45.112
Contracts for Investment of Debt Service Funds
45.113
Trust for County Permanent School Fund
45.151
Definitions
45.152
Creation of Authority
45.153
Board of Directors
45.154
Construction, Acquisition, and Operation of Stadium
45.155
Bonds
45.156
Contracts with School Districts
45.157
Examination of Bonds by Attorney General
45.158
Charges for Use of Stadium
45.159
Depository
45.160
Tax Exemption
45.161
Eminent Domain
45.162
Investment of Bond Proceeds
45.163
Acceptance of Gifts
45.201
Definitions
45.202
Selection of Depository
45.203
Depository Must Be a Bank
45.204
Conflict of Interest
45.205
Term of Contract
45.206
Bid or Request for Proposal Notices
45.207
Award of Contract
45.208
Depository Contract
45.209
Investment of District Funds
45.231
Employment of Assessor and Collector
45.232
Alternate Methods of Selection Under Former Law
45.251
Definitions
45.252
Intercept Credit Enhancement Program
45.253
Limitation on Intercept Credit Enhancement
45.254
Eligibility
45.255
Application for Credit Enhancement
45.256
Investigation
45.257
Credit Enhancement Endorsement
45.258
Notice of Failure or Inability to Pay
45.259
Payment from Intercepted Funds
45.260
Bonds Not Accelerated on Failure to Pay
45.261
Reimbursement of Foundation School Program
45.262
Repeated Failure to Pay
45.263
Rules
45.301
Definitions
45.302
Establishment of Program
45.303
Limitation on Participation
45.304
Allocation of Portion of Foundation School Program Funds for Credit Enhancement
45.305
Private Matching Funds Required
45.306
Repayment
45.307
Status of Program
45.308
Rules
45.351
Applicability
45.352
Election to Revoke County Equalization Tax
45.0531
Additional Limitation: Reservation of Percentage of Permanent School Fund Value
45.0532
Limitation on Guarantee of Charter District Bonds
45.0533
Communication with Nationally Recognized Investment Rating Firm
45.0541
Eligibility of Charter District Bonds
45.0571
Charter District Bond Guarantee Reserve Fund
45.0591
Payment of Charter District Bond on Default
45.1011
Use of Bond Proceeds for School Safety Compliance
45.1105
Use of Unspent General Obligation Bond Proceeds
45.2541
Intercept of Foundation School Program Appropriations as Credit Enhancement

Accessed:
Jun. 5, 2024

§ 45.207’s source at texas​.gov