Texas § 364.051 DEPOSITORY OF BOND PROCEEDS AND OTHER REVENUE.

Texas Statutes

§ 364.051 — DEPOSITORY OF BOND PROCEEDS AND OTHER REVENUE.

Texas § 364.051

Code TNTransportation Code

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Bluebook

Tex. Transportation Code Code Ann. § 364.051 (2026).

Text

Sec. 364.051. DEPOSITORY OF BOND PROCEEDS AND OTHER REVENUE.

(a)Any bank or trust company in this state may be the depository of the proceeds of bonds issued under this chapter or revenues derived from the operation of a toll bridge acquired under this chapter.

(b)The cash proceeds of the sale shall be deposited in the depository and shall be paid under the terms and conditions agreed on by the commissioners court and the purchasers of the bonds.

(c)A depository may furnish the indemnity bonds or pledge the securities required by the county.

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Sec. 364.051. DEPOSITORY OF BOND PROCEEDS AND OTHER REVENUE. (a) Any bank or trust company in this state may be the depository of the proceeds of bonds issued under this chapter or revenues derived from the operation of a toll bridge acquired under this chapter.
(b) The cash proceeds of the sale shall be deposited in the depository and shall be paid under the terms and conditions agreed on by the commissioners court and the purchasers of the bonds.
(c) A depository may furnish the indemnity bonds or pledge the securities required by the county.