Sec. 62.114. BOND OF CONTRACTOR. (a) The party, firm, or corporation to whom a contract is awarded under Section 62.111 of this code shall execute a bond, payable to the commission, for twice the amount of the contract price, conditioned on faithful performance of the obligations, agreements, and covenants of the contract and that in default of the performance he will pay to the district all damages sustained by reason of the default.
(b) The bond shall be approved by the commission.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 62 - Article Xvi, Section 59, Navigation Districts
Subchapter D. Powers and Duties
Section 62.101. Purposes of District
Section 62.102. Districts as Governmental Agencies
Section 62.103. Duties of County Officials
Section 62.104. Duties of District Engineer
Section 62.106. Condemnation Proceedings
Section 62.107. Acquisition and Conveyance of Land
Section 62.1071. Acquisition of Land, Equipment, or Improvements in Certain Counties
Section 62.1072. Additional Commissioners for Acquisitions From Certain Municipalities
Section 62.108. Entry on Property
Section 62.110. Notice of Bids
Section 62.111. Award of Contract
Section 62.112. Interest in Contracts
Section 62.113. Form of Contracts
Section 62.114. Bond of Contractor
Section 62.115. Supervision of Work
Section 62.116. Inspection of Work; Payment
Section 62.118. Cooperation With United States
Section 62.119. Preference Lien; Waiver; Enforcement
Section 62.120. Contract for and Lease of Water System
Section 62.122. Disposition of Salvage or Surplus Personal Property