Texas Water Code 63.173 – Contractor’s Bond
Current as of: 2024 | Check for updates
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Terms Used In Texas Water Code 63.173
- Commission: means the board of navigation and canal commissioners. See Texas Water Code 63.001
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- District: means a self-liquidating navigation district. See Texas Water Code 63.001
The contractor shall execute an adequate bond payable to the commission in the amount of the contract price, conditioned that he will faithfully perform the obligations, agreements, and covenants of the contract and that if he defaults he will pay the district all damages sustained by reason of the default. The bond shall be approved by the commission.