(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 requirements. Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Texas Legal Code