Depository

Sec. 9305.0403. DEPOSITORY. (a) The board shall designate one or more banks to serve as a depository for district money. (b) District money shall be deposited in a designated depository, except that money shall be remitted to the bank of payment to pay the principal of and interest on the district's outstanding bonds. (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. 1.04, eff. April 1, 2027. Text of section effective on April 01, 2027