Tex. Spec. Dist. Local Laws Code § 9092.0403 · Subchapter D. GENERAL FINANCIAL PROVISIONS
DEPOSITORY.
Not yet in force
Text of section effective on April 01, 2027
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.03, eff. April 1, 2027.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.9092.htm
- Text hash
- sha256 bfb3ff157c47f9e7d16f46a40dae87771bef2ac556fd0b5716d21353baaaf83c
- 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.