Tex. Loc. Gov't Code § 281.059 · Subchapter D. POWERS AND DUTIES
DEPOSITORY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The board shall designate by order or resolution one or more banks in or out of the authority's boundaries to serve as the depository for the authority's funds. All funds of the authority shall be deposited in its depository unless an order or resolution authorizing the issuance of the authority's bonds requires a different disposition. To the extent that funds in a depository bank are not insured by the Federal Deposit Insurance Corporation, they shall be secured in the manner provided for the security of county funds.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.281.htm
- Text hash
- sha256 7a87b8213e246de38a29dd330528626faedf57651925543fd45e3f469fd80f4f
- 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.