Tex. Spec. Dist. Local Laws Code Section 1039.158
Depository

(a)

The board shall select one or more banks inside or outside the district to serve as a depository for district money.

(b)

District money, other than money invested as provided by Section 1039.159 (Spending and Investment Restrictions)(b) and money transmitted to a bank for payment of bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and shall remain on deposit.

(c)

This chapter, including Subsection (b), does not limit the power of the board to place a part of district money on time deposit or to purchase certificates of deposit of a state or national bank that is a member of the Federal Deposit Insurance Corporation.

(d)

The district may not deposit money with a bank in an amount that exceeds the maximum amount insured by the Federal Deposit Insurance Corporation unless the bank first executes a bond or provides other security in an amount sufficient to secure from loss the district money that exceeds the amount insured by the Federal Deposit Insurance Corporation.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Section 1039.158 — Depository, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1039.­htm#1039.­158 (accessed May 4, 2024).

1039.001
Definitions 1039.002
Authority for Operation 1039.003
Essential Public Function 1039.004
District Territory 1039.005
District Support and Maintenance Not State Obligation 1039.006
Restriction on State Financial Assistance 1039.051
Board Election 1039.052
Alternative Director Election 1039.053
Notice of Election 1039.054
Qualifications for Office 1039.055
Board Vacancy 1039.056
Officers 1039.057
Compensation 1039.058
Voting Requirement 1039.059
District Administrator 1039.060
General Duties of District Administrator 1039.061
Emergency Action 1039.062
Employees 1039.101
District Responsibility 1039.102
Restriction on Political Subdivision Taxation and Debt 1039.103
Management, Control, and Administration 1039.104
Hospital System 1039.105
Rules 1039.106
Purchasing and Accounting Procedures 1039.107
District Property, Facilities, Equipment, and Services 1039.108
Eminent Domain 1039.109
Cost of Relocating or Altering Property 1039.110
Gifts and Endowments 1039.111
Construction Contracts 1039.112
Operating and Management Contracts 1039.113
Contracts with Governmental Entities for Treatment 1039.114
Contracts with Governmental Entities for Investigatory or Other Services 1039.115
Joint Ownership Arrangement 1039.116
Payment for Treatment 1039.117
Authority to Sue and Be Sued 1039.118
Election Date 1039.151
Budget 1039.152
Notice 1039.153
Amendments to Budget 1039.154
Restriction on Expenditures 1039.155
Fiscal Year 1039.156
Annual Audit 1039.157
Inspection of Annual Audit and District Records 1039.158
Depository 1039.159
Spending and Investment Restrictions 1039.160
Tax Exemption 1039.201
General Obligation Bonds 1039.202
Tax to Pay General Obligation Bonds 1039.203
General Obligation Bond Election 1039.204
Revenue Bonds 1039.205
Refunding Bonds 1039.206
Maturity of Bonds 1039.207
Execution of Bonds 1039.208
Bonds Exempt from Taxation 1039.251
Imposition of Ad Valorem Tax 1039.252
Tax Rate 1039.253
Tax Assessor-collector
Green check means up to date. Up to date

Accessed:
May 4, 2024

§ 1039.158’s source at texas​.gov