Tex. Gov't Code § 2306.119 · Subchapter F. HOUSING FINANCE DIVISION: GENERAL PROVISIONS
SELECTION OF DEPOSITORY FOR OPERATING FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The department shall choose a depository for the operating funds of the housing finance division after inviting bids for favorable interest rates.
(b) The housing finance division shall publish notice in at least one newspaper of general circulation in this state no later than the 14th day before the last day set for the receipt of the bids.
(c) Notice published under this section must state the:
(1) types of deposits planned;
(2) last day on which bids will be received; and
(3) time and place for opening bids.
(d) Sealed bids must be:
(1) identified on the envelope as bids; and
(2) submitted to the housing finance division before the deadline for receiving bids.
(e) The housing finance division shall provide a tabulation of all submitted bids for public inspection.
(f) The department shall choose the depository submitting the bid with the most favorable financial terms to the department, considering the security and efficiency with which the depository is capable of managing the department's funds.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2306.htm
- Text hash
- sha256 fd99218146e96f476e0b96053615bdbcaeb53f07f8460eccaccb4b73e13f7f09
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.