Depository For Proceeds and Revenues

Sec. 283.204. DEPOSITORY FOR PROCEEDS AND REVENUES. A bank or trust company in this state may: (1) act as a depository of bond proceeds or revenues received from the operation of a project; and (2) provide an indemnity bond or pledge securities required by the county. Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.