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Tex. Water Code § 36.155

DEPOSITORY

Texas · Texas Water Code · Status: effective

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Tex. Water Code § 36.155, DEPOSITORY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/580403
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(a) The board shall name one or more banks to serve as depository for the district funds. (b) District funds, other than those transmitted to a bank for payment of bonds issued by the district, shall be deposited as received with the depository bank and shall remain on deposit. This subsection does not limit the power of the board to place a portion of the district's funds on time deposit or to purchase certificates of deposit. (c) To the extent that funds in the depository are not insured by the Federal Deposit Insurance Corporation, they shall be secured in the manner provided by law for the security of funds by the Public Funds Collateral Act, Chapter 2257, Government Code.