§ 26310 Project Insurance And Repairs

Government Code·California

AI SummaryVerified

Key Takeaways

•The board can buy insurance to protect a project if it gets damaged or destroyed.
•If something bad happens to the project, the insurance money can be used to fix or rebuild it.
•The insurance money can also be used to pay back any special loans (bonds) taken for the project if the board agrees to it.

Example

A city builds a new park with a playground, and they buy insurance for it. One day, a big storm destroys the playground.

The insurance money can be used to fix the playground or rebuild it. If the city took out a loan to build the park, they could also use the money to pay back that loan if they agreed to it earlier.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 26310 Project Insurance And Repairs

The board may insure against any accident to or destruction of any project or any part thereof. Any money collected on such insurance shall be used for the purpose of repairing or rebuilding the project damaged, injured or destroyed or for the retirement of any revenue bonds issued in connection therewith which may be outstanding or unredeemed, as may be agreed upon by the board in the indenture authorizing the issuance of the bonds. (Added by Stats. 1947, Ch. 815.)

Last verified: January 22, 2026

Key Terms

insurance retirement accident the board destruction connection issuance

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 26310.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References