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DRAFT <br />IX. RISK MANAGEMENT <br />The Authority is exposed to various risks of loss related to torts; theft of, damage to and <br />destruction of assets; errors and omissions; and natural disasters for which the Authority <br />participates (through an endorsement on the City of La Porte's contract) along with other entities <br />in the Texas Municipal League's Intergovernmental Risk Pool. The pool purchases commercial <br />insurance at group rates for participants in the pool. Neither the Authority nor the City has <br />additional risk or responsibility to the pool, outside of payment of insurance premiums. Neither the <br />Authority nor the City had significantly reduced insurance coverage or had settlements that <br />exceeded coverage amounts for the post three fiscal years. <br />X. ECONOMIC DEPENDENCY <br />The Authority receives all of its support from three municipalities, with the City of La Porte being <br />the largest contributor at approximately 86%. In addition, the Authority contracts with the City of <br />La Porte to provide administrative oversight and operate the Authority's transmissions system. <br />17 <br />