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Tex. Special District Local Laws Code § 1074.159

DEPOSITORY

Texas · Texas Special District Local Laws Code · Status: effective

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Tex. Special District Local Laws Code § 1074.159, DEPOSITORY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/589287
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(a) The board shall select one or more banks to serve as a depository for district money. (b) All district money, other than money invested as provided by Section 1074.160 and money transmitted to a bank for payment of bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and shall remain on deposit. (c) This section does not limit the power of the board to place a part of district money on time deposit or to purchase certificates of deposit.