Texas § 1076.157 DEPOSITORY.

Texas Statutes

§ 1076.157 — DEPOSITORY.

Texas § 1076.157

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 1076.157 (2026).

Text

Sec. 1076.157. DEPOSITORY.

(a)The board shall select one or more banks in this state to act as a depository of bond proceeds or of revenue derived from the operation of district facilities.

(b)The depository shall, as determined by the board:

(1)furnish indemnity bonds;

(2)pledge securities; or

(3)meet any other requirement.

(c)Membership on the district's board of an officer or director of a bank does not disqualify the bank from being selected as depository.

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Sec. 1076.157. DEPOSITORY. (a) The board shall select one or more banks in this state to act as a depository of bond proceeds or of revenue derived from the operation of district facilities.
(b) The depository shall, as determined by the board:
(1) furnish indemnity bonds;
(2) pledge securities; or
(3) meet any other requirement.
(c) Membership on the district's board of an officer or director of a bank does not disqualify the bank from being selected as depository.