Tex. Spec. Dist. Local Laws Code § 8503.008 · Chapter 8503. LOWER COLORADO RIVER AUTHORITY
DISBURSEMENT OF FUNDS; SURETY BONDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The money of the authority may be disbursed only by checks, drafts, orders, or other instruments signed by the persons authorized by the bylaws or a resolution concurred in by no fewer than a majority of all the directors.
(b) The general manager, the treasurer, and all other officers, agents, and employees of the authority charged with the collection, custody, or payment of any funds of the authority must give bond conditioned on the faithful performance of their duties and an accounting for all funds and property of the authority coming into their hands.
(c) The bonds must be in a form and amount, and with a surety company authorized to do business in this state, approved by the board.
(d) The premiums on the bonds shall be paid by the authority and charged as an operating expense.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 996, Sec. 1, eff. Sept. 1, 2003.
Renumbered from Water Code, Section 222.008 by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 13.006(b), eff. September 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8503.htm
- Text hash
- sha256 90a9b55dbf52298b209df8d8bca14af8df38b1bef6b864d4d52c05c358f2b807
- 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.