Tex. Special District Local Laws Code § 9092.0403
DEPOSITORY
Texas · Texas Special District Local Laws Code · Status: effective
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- Citation
- Tex. Special District Local Laws Code § 9092.0403, DEPOSITORY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/623185
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Full text
(a) The board shall designate one or more banks in the district to serve as a depository for the district's money.
(b) District money shall be deposited in a designated depository, except that sufficient money shall be remitted to the bank or banks of payment to pay the principal of and interest on the district's outstanding bonds on or before the maturity date of the principal and interest.
(c) Membership of a bank officer or director on the board does not disqualify the bank from being designated as a depository.