GroundRules
Tex. Special District Local Laws Code § 7803.155: DEPOSITORY.
Where this section sits in the code
- SPECIAL DISTRICT LOCAL LAWS CODE
- TITLE 6. WATER AND WASTEWATER
- SUBTITLE E. LEVEE IMPROVEMENT DISTRICTS
- CHAPTER 7803. IRVING FLOOD CONTROL DISTRICT SECTION I
- SUBCHAPTER D. GENERAL FINANCIAL PROVISIONS
(a) The board shall designate one or more banks inside or outside the district to serve as the depository for the district's money.
(b) All district money shall be deposited in the depository bank or banks, except that sufficient money must be remitted to and received by the bank or banks of payment to pay the principal of and interest on any outstanding district bonds on or before the maturity date of the principal and interest.
(c) To the extent that money in a depository bank is not insured by the Federal Deposit Insurance Corporation, the money must be secured in the manner provided by law for the security of county funds.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.02, eff. April 1, 2015.
Collected 2026-08-27T01:47:41Z. Source file · JSON