{"data":{"id":"us-tx/tex.-water-code-60.112","jurisdiction":"us-tx","citation":"Tex. Water Code § 60.112","heading":"INSURING IMPROVEMENTS TO PROTECT HOLDERS OF OBLIGATIONS.","body":"(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.\n(b) The commission may obtain from insurers of good standing:\n(1) insurance against loss or damage by fire, water, or flood;\n(2) insurance against loss or damage from any hazards customarily insured against by private companies operating similar properties; and\n(3) insurance covering the use and occupancy of the property as is customarily carried by private companies.\n(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.\nActs 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.","path":["WATER CODE","TITLE 4. GENERAL LAW DISTRICTS","CHAPTER 60. NAVIGATION DISTRICTS--GENERAL PROVISIONS","SUBCHAPTER E. POWERS OF DISTRICTS FOR IMPROVEMENT OF PORT FACILITIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/WA/htm/WA.60.htm#60.112","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:48Z","sha256":"34b548dd498093b79241d05af13375bb213f1d505cb9fdf28de2663326293990","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-water-code-60.111","next":"us-tx/tex.-water-code-60.113"},"notice":"GroundRules: Original legal text. Not legal advice."}