(a) The board by resolution shall designate a bank in the county as the district's depository. A designated bank serves for two years and until a successor is designated.(b) All income received by the district shall be deposited with the district depository.(c) The net revenue from the tax imposed under Section 1057.201 may be withdrawn as directed by the board.(d) All district money shall be secured in the manner provided for securing county funds. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Texas Legal Code