Texas § 8510.0409 DEPOSITORY.

Texas Statutes

§ 8510.0409 — DEPOSITORY.

Texas § 8510.0409

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 8510.0409 (2026).

Text

Sec. 8510.0409. DEPOSITORY.

(a)The board shall designate one or more banks in the authority to serve as depository for the authority's money.

(b)Authority money shall be deposited in a depository, except that:

(1)money pledged to pay bonds may be deposited with the trustee bank named in the trust agreement; and

(2)money shall be remitted to the bank of payment for the payment of the principal of and interest on bonds.

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Sec. 8510.0409. DEPOSITORY. (a) The board shall designate one or more banks in the authority to serve as depository for the authority's money.
(b) Authority money shall be deposited in a depository, except that:
(1) money pledged to pay bonds may be deposited with the trustee bank named in the trust agreement; and
(2) money shall be remitted to the bank of payment for the payment of the principal of and interest on bonds.