Tex. Spec. Dist. Local Laws Code Section 1046.159
Depository

(a)

After advertising in the manner provided by Chapter 252 and Subchapter C, Chapter 262 (Purchasing and Contracting Authority of Counties), Local Government Code, the board shall choose by competitive bidding 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 1046.160 (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.

(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.

(d)

The district may not deposit money with 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 other security 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 1046.159 — Depository, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1046.­htm#1046.­159 (accessed Jun. 5, 2024).

1046.001
Definitions 1046.002
Authority for Operation 1046.003
Essential Public Function 1046.004
District Territory 1046.005
District Support and Maintenance Not State Obligation 1046.006
Restriction on State Financial Assistance 1046.007
Election Date 1046.051
Board Election 1046.052
Notice of Election 1046.053
Form of Ballot at Runoff Election 1046.054
Modification of Term 1046.055
Qualifications for Office 1046.056
Bond 1046.057
Board Vacancy 1046.058
Officers 1046.059
Compensation 1046.060
Voting Requirement 1046.061
Administrator for Each District Hospital 1046.062
Appointment and Removal of Staff and Employees 1046.063
Attorney 1046.064
General Duties of Administrator 1046.065
Retirement Benefits 1046.066
Seal 1046.101
District Responsibility 1046.102
Board Responsibility 1046.103
Restriction on Political Subdivision Taxation and Debt 1046.104
Management, Control, and Administration 1046.105
Hospital System 1046.106
Rules 1046.107
Purchasing and Accounting Procedures 1046.108
District Property, Facilities, and Equipment 1046.109
Eminent Domain 1046.110
Cost of Relocating or Altering Property 1046.111
Gifts and Endowments 1046.112
Construction Contracts 1046.113
Operating and Management Contracts 1046.114
Contract in Name of District 1046.115
Contracts with Governmental Entities for Care and Treatment 1046.116
Provision of Services Outside District 1046.117
Contracts with Governmental Entities for Investigatory or Other Services 1046.118
Leases 1046.119
Authority to Sell or Close Certain District Hospitals 1046.120
Payment for Treatment 1046.121
Authority to Sue and Be Sued 1046.122
Recommendation of Legislation 1046.151
Budget 1046.152
Notice 1046.153
Amendments to Budget 1046.154
Restriction on Expenditures 1046.155
Fiscal Year 1046.156
Annual Audit 1046.157
Inspection of Annual Audit and District Records 1046.158
Financial Report 1046.159
Depository 1046.160
Spending and Investment Restrictions 1046.161
Authority to Borrow Money 1046.201
General Obligation Bonds 1046.202
Tax to Pay General Obligation Bonds 1046.203
General Obligation Bond Election 1046.204
Maturity of General Obligation Bonds 1046.205
Execution of General Obligation Bonds 1046.206
Revenue Bonds 1046.207
Refunding Bonds 1046.208
Bonds Exempt from Taxation 1046.251
Imposition of Ad Valorem Tax 1046.252
Tax Rate 1046.253
Assessment and Collection by County Tax Assessor-collector 1046.254
Assessment and Collection by District Tax Assessor-collector
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 1046.159’s source at texas​.gov