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Tex. Special District Local Laws Code § 1076.157

DEPOSITORY

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

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Tex. Special District Local Laws Code § 1076.157, DEPOSITORY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/589399
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(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.