Tex. Local Gov't Code Section 116.087
Additional Bond

(a)

If after a county establishes a depository the county or a subdivision of the county receives funds from the sale of bonds or otherwise, at the next meeting of the commissioners court, or as soon afterward as is practical, the commissioners court may make written demand on the depository to provide an additional bond in an amount equal to the amount of funds received. If county funds derived from the sale of county securities during the term of a depository bond are deposited with the depository, the commissioners court shall require an additional bond in an amount equal to the additional county funds. The depository shall continue the additional bond in effect as long as the additional funds remain in the depository.

(b)

The depository may cancel this extra or special bond and concurrently substitute a new bond for it as the additional funds are reduced. However, the additional bond must always at least equal the amount of the additional funds.

(c)

If a depository does not provide an additional bond under Subsection (a) within 30 days after the date the commissioners court demands the additional bond, the commissioners court may withdraw the additional funds from the depository by the draft of the county treasurer and deposit them in a solvent national or state bank that has a combined capital stock and surplus greater than the amount of the additional funds. The commissioners court may leave the additional funds on deposit with this alternative bank until the county depository files the required additional bond with the commissioners court, after which the commissioners court shall redeposit the balance of the additional funds with the county depository.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Source: Section 116.087 — Additional Bond, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­116.­htm#116.­087 (accessed Jun. 5, 2024).

116.001
Definitions 116.002
Money Affected 116.021
Depository and Subdepository Contracts 116.022
Notice 116.023
Applications 116.024
Selection of Depositories and Subdepositories 116.025
Designation of Depository or Subdepository 116.026
Applicants Outside County 116.027
Selection of Nonapplicant Depository 116.028
Successor Bank as County Depository 116.051
Qualification as Depository or Subdepository 116.052
Personal Bond 116.053
Surety Bond 116.054
Bonds, Notes, and Other Securities 116.055
First Mortgages on Improved Real Property 116.056
Real Property 116.057
Condition of Personal Bond or Contract for Securities 116.058
Amount of Security Required 116.059
Valuation of Real Property Provided as Security 116.060
Security Not Required for Federally Insured Deposits 116.081
New Bond 116.082
Substitution of Securities 116.083
Release of Excess Security 116.084
Inadequate Security 116.085
Solvency of Personal Surety 116.086
Solvency of Surety Company and Adequacy of Securities 116.087
Additional Bond 116.088
Release of Surety Company 116.089
Surrender of Interest on Securities 116.111
Character and Amount of Deposits 116.112
Investment of Funds 116.113
Deposit of Funds 116.114
Collections by Depository 116.115
Clearinghouse for Multiple Depositories 116.116
Obligations Payable at County Depository 116.117
Statements of Account 116.118
Debts Payable Other than at County Treasury 116.119
Requirements for Auditing and Countersigning Unaffected 116.120
Collection of Certain Overdue County Orders for Payment or Checks 116.151
Liabilities of Sureties on Separate Bonds 116.152
Subrogation of Sureties 116.153
Pro Rata Recovery by State and County 116.154
Liability of Depository Pending Collection of Deposits 116.155
Failure of Depository to Pay Check or Order for Payment 116.0565
Certificate of Deposit
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 116.087’s source at texas​.gov