Sec. 9601.152. DEPOSITORY. District money shall be deposited in the depository or depositories designated by the board, except that:
(1) bond proceeds and money pledged to pay bonds, to the extent provided in the proceedings authorizing the issuance of bonds, or the trust indenture securing the bonds, may be deposited with another depository or trustee named in the proceedings or trust indenture; and
(2) money shall be remitted to each paying agent for the payment of principal of and interest on the bonds.
Added by Acts 2009, 81st Leg., R.S., Ch. 523 (S.B. 1223), Sec. 1, eff. June 19, 2009.
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