Depository

Sec. 8515.0402. DEPOSITORY. (a) The board shall select one or more banks or trust companies in this state to act as a depository of bond proceeds or of revenue derived from the operation of authority facilities. (b) The depository shall, as determined by the board: (1) provide indemnity bonds; (2) pledge securities; or (3) meet any other requirements. Added by Acts 2025, 89th Leg., R.S., Ch. 203 (H.B. 1615), Sec. 1.02, eff. April 1, 2027. Text of section effective on April 01, 2027