Sec. 9050.152. 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 district facilities.
(b) The depository shall, as determined by the board:
(1) furnish indemnity bonds;
(2) pledge securities; or
(3) meet any other requirements.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
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