Sec. 453.058. ACCOUNTS AND DEPOSIT OF MONEY; DEDICATION OF MONEY. (a) The board shall deposit all transit department money, other than money invested as provided by Section 453.057, with the treasurer of the creating municipality to the credit of the accounts described by Subsection (b).
(b) All money received from the collection of the sales and use tax under Subchapter H shall be credited to an account separate from an account to which all other money governed by Subsection (a) shall be credited.
(c) Sales and use tax collections under Subchapter H may be used only for mass transit.
(d) The board may transfer money credited to the account that does not contain sales and use tax collections back to the municipality.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
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