(a) With the prior approval of the Baytown City Council, the board shall select one or more banks in this state to act as depository for the authority's money.(b) To the extent that money in a depository bank is not insured by the Federal Deposit Insurance Corporation, the money shall be secured in the manner provided by law for the security of the City of Baytown's money. Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.06, eff. April 1, 2007.
Texas Legal Code