Tex. Spec. Dist. Local Laws Code Section 1045.159
Depository

(a)

The board shall select at least one bank to serve as a depository for district money.

(b)

District money, other than money invested as provided by Section 1045.160 (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. This subsection does not limit the power of the board to place a part of district money on time deposit or to purchase certificates of deposit.

(c)

The district may not deposit money with a bank or purchase a certificate of deposit from a bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation unless the bank first executes a bond or provides other collateral eligible to secure a public deposit in an amount sufficient to secure from loss the district money that exceeds the amount secured 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 1045.159 — Depository, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1045.­htm#1045.­159 (accessed Jun. 5, 2024).

1045.001
Definitions 1045.002
Authority for Operation 1045.003
Essential Public Function 1045.004
District Territory 1045.005
District Support and Maintenance Not State Obligation 1045.006
Restriction on State Financial Assistance 1045.051
Board Election and Appointment 1045.052
Notice of Election 1045.053
Qualifications for Office 1045.054
Board Vacancy 1045.055
Officers 1045.056
Compensation 1045.057
Voting Requirement 1045.058
Administrators 1045.059
General Duties of District Administrator 1045.060
Attorney 1045.061
Employees 1045.062
Recruitment of Medical Staff and Employees 1045.063
Health Care Educational Programs 1045.064
Liability Insurance 1045.065
Retirement Benefits 1045.101
District Responsibility 1045.102
Restriction on County or Municipality Taxation and Debt 1045.103
Management, Control, and Administration 1045.104
Rules 1045.105
Purchasing and Accounting Procedures 1045.106
Mobile Emergency Medical Service 1045.107
District Property, Facilities, and Equipment 1045.108
Eminent Domain 1045.109
Cost of Relocating or Altering Property 1045.110
Gifts and Endowments 1045.111
General Contract Power 1045.112
Construction Contracts 1045.113
Operating and Management Contracts 1045.114
Contracts with Governmental Entities for Certain Services 1045.115
Joint Ownership Arrangement 1045.116
Payment for Treatment 1045.117
Reimbursement for Services 1045.118
Authority to Sue and Be Sued 1045.151
Budget 1045.152
Notice 1045.153
Amendments to Budget 1045.154
Restriction on Expenditures 1045.155
Fiscal Year 1045.156
Annual Audit 1045.157
Inspection of Annual Audit and District Records 1045.158
Financial Report 1045.159
Depository 1045.160
Spending and Investment Restrictions 1045.161
Authority to Borrow Money 1045.201
Obligations and Credit Agreements 1045.202
General Obligation Bonds 1045.203
Tax to Pay General Obligation Bonds 1045.204
General Obligation Bond Election 1045.205
Revenue Bonds 1045.206
Refunding Bonds 1045.207
Maturity of Bonds 1045.208
Bonds Exempt from Taxation 1045.251
Imposition of Ad Valorem Tax 1045.252
Tax Rate 1045.253
Election to Increase Maximum Tax Rate 1045.254
Tax Assessor-collector
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 1045.159’s source at texas​.gov