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Tex. Special District Local Laws Code § 8510.0409

DEPOSITORY

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

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Tex. Special District Local Laws Code § 8510.0409, DEPOSITORY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/618897
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(a) The board shall designate one or more banks in the authority to serve as depository for the authority's money. (b) Authority money shall be deposited in a depository, except that: (1) money pledged to pay bonds may be deposited with the trustee bank named in the trust agreement; and (2) money shall be remitted to the bank of payment for the payment of the principal of and interest on bonds.