DEPOSITORY — Texas Code § SD.7803.155
Texas Code § SD.7803.155 — DEPOSITORY. Reproduced from the official The Texas Constitution, with a citation summary, verification link, and related provisions.
§ SD.7803.155. DEPOSITORY
DEPOSITORY. (a) The board shall designate one or more banks inside or outside the district to serve as the depository for the district's money. (b) All district money shall be deposited in the depository bank or banks, except that sufficient money must be remitted to and received by the bank or banks of payment to pay the principal of and interest on any outstanding district bonds on or before the maturity date of the principal and interest. (c) To the extent that money in a depository bank is not insured by the Federal Deposit Insurance Corporation, the money must be secured in the manner provided by law for the security of county funds. Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026 ), Sec. 1.02, eff. April 1, 2015. SUBCHAPTER E. BONDS
Source: official Texas text · Last verified 2026-08-27
At a glance
- Citation: The Texas Constitution § SD.7803.155
- Jurisdiction: Texas
- Code: The Texas Constitution
- Subject: DEPOSITORY
- Text: transcribed from the official source (verify below)
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Common questions
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The text above is transcribed from the The Texas Constitution, the codified statutes of Texas. The official publisher link appears under "Verify the text" on this page.
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It addresses "DEPOSITORY". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
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