DEPOSITORY.
Tex. SPEC. DIST. LOCAL LAWS Code § 8515.0402.
in effect(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