(a) The board shall select one or more banks or trust companies in this state to act as a depository of bond proceeds or of revenue derived from the operation of district facilities.(b) The depository shall, as determined by the board:(1) furnish indemnity bonds;(2) pledge securities; or(3) meet any other requirement. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.10, eff. April 1, 2009.
Texas Legal Code