Sec. 1074.159. DEPOSITORY. (a) The board shall select one or more banks to serve as a depository for district money.
(b) All district money, other than money invested as provided by Section 1074.160 and money transmitted to a bank for payment of bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and shall remain on deposit.
(c) This section does not limit the power of the board to place a part of district money on time deposit or to purchase certificates of deposit.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.
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