Tex. Water Code § 60.112 · Subchapter E. POWERS OF DISTRICTS FOR IMPROVEMENT OF PORT FACILITIES
INSURING IMPROVEMENTS TO PROTECT HOLDERS OF OBLIGATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The commission may enter into agreements with purchasers of any obligations issued under this subchapter to insure improvements and facilities, the revenue of which is pledged to the payment of the obligations.
(b) The commission may obtain from insurers of good standing:
(1) insurance against loss or damage by fire, water, or flood;
(2) insurance against loss or damage from any hazards customarily insured against by private companies operating similar properties; and
(3) insurance covering the use and occupancy of the property as is customarily carried by private companies.
(c) The cost of the insurance shall be budgeted as maintenance and operation expense and shall be carried for the benefit of the holders of the obligations.
Notes and commentary — not statutory text
History
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.60.htm
- Text hash
- sha256 ccc3cd543772ff6bbfc691d2c5f9dcfa1a7b9a892fa7e9dfd044fb6a498c4a05
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.