Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Special District Local Laws Code § 9092.0403: DEPOSITORY.

Where this section sits in the code

SPECIAL DISTRICT LOCAL LAWS CODE
TITLE 6. WATER AND WASTEWATER
SUBTITLE I. WATER CONTROL AND IMPROVEMENT DISTRICTS
CHAPTER 9092. FRANKLIN COUNTY WATER DISTRICT
SUBCHAPTER D. GENERAL FINANCIAL PROVISIONS

Text of section effective on April 01, 2027

(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.

Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.03, eff. April 1, 2027.

Collected 2026-08-27T01:47:41Z. Source file · JSON

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