Texas § 9092.0403 DEPOSITORY.

Texas Statutes

§ 9092.0403 — DEPOSITORY.

Texas § 9092.0403

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 9092.0403 (2026).

Text

Text of section effective on April 01, 2027 Sec. 9092.0403. DEPOSITORY.

(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.

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Text of section effective on April 01, 2027
Sec. 9092.0403. DEPOSITORY. (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.