Tex. Spec. Dists. Code § 1076.157

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 1076.157 - Depository

(a) The board shall select one or more banks in this state to act as a depository of bond proceeds or of revenue derived from the operation of district facilities.

(b) The depository shall, as determined by the board:

(1) furnish indemnity bonds;

(2) pledge securities; or

(3) meet any other requirement.

(c) Membership on the district's board of an officer or director of a bank does not disqualify the bank from being selected as depository.

Tex. Spec. Dist. Loc. Laws § 1076.157

Added by Acts 2013, 83rd Leg. - Regular Session, ch. 112,Sec. 1.01, eff. 4/1/2015.