Tex. Spec. Dist. Local Laws Code Section 1072.160
Depository

(a)

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

(b)

The board may solicit bids from local financial institutions to determine which institution may serve as a depository for district money.

(c)

District money, other than money invested as provided by Section 1072.161 (Restriction on Investment) 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 board’s power to place part of the district’s money on time deposit or to purchase certificates of deposit.

(d)

The district may deposit money with a bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation only if 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 2009, 81st Leg., R.S., Ch. 876 (S.B. 2517), Sec. 3.01, eff. June 19, 2009.

Source: Section 1072.160 — Depository, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1072.­htm#1072.­160 (accessed Jun. 5, 2024).

1072.001
Definitions 1072.002
Authority for Operation 1072.003
Essential Public Function 1072.004
District Territory 1072.005
District Support and Maintenance Not State Obligation 1072.006
Restriction on State Financial Assistance 1072.021
Election on Creation of District 1072.022
Temporary Directors 1072.023
Temporary Officers 1072.024
Election of Initial Elected Directors 1072.025
Initial Elected Directors 1072.026
Initial Elected Officers 1072.027
Procedure for Election of Permanent Directors 1072.051
Board Election 1072.052
Notice 1072.053
Qualifications for Office 1072.054
Director’s Bond 1072.055
Board Vacancy 1072.056
Officers 1072.057
Compensation 1072.058
Voting Requirement 1072.059
District Administrator 1072.060
General Duties of District Administrator 1072.061
Assistant District Administrator 1072.062
Employees 1072.063
Recruitment of Medical Staff and Employees 1072.064
Appointment and Removal of Medical Staff 1072.065
Retirement Benefits 1072.101
District Responsibility 1072.102
Management, Control, and Administration 1072.103
Rules 1072.104
Purchasing and Accounting Procedures 1072.105
Provision of Certain Health Services 1072.106
District Property, Facilities, and Equipment 1072.107
Operating and Management Contracts 1072.108
Service Contracts 1072.109
Eminent Domain 1072.110
Cost of Relocating or Altering Property 1072.111
Gifts and Endowments 1072.112
Payment for Treatment 1072.113
Reimbursement for Services 1072.114
Nonprofit Corporation 1072.115
Authority to Sue and Be Sued 1072.116
Construction Contracts 1072.151
Budget 1072.152
Notice 1072.153
Amendment of Budget 1072.154
Fiscal Year 1072.155
Annual Audit 1072.156
Inspection of Annual Audit and District Records 1072.157
Financial Report 1072.158
Short-term Financing 1072.159
Debt Limitation 1072.160
Depository 1072.161
Restriction on Investment 1072.201
General Obligation Bonds 1072.202
Tax to Pay General Obligation Bonds 1072.203
General Obligation Bond Election 1072.204
Revenue Bonds 1072.205
Maturity 1072.206
Execution of Bonds 1072.207
Bonds Not Subject to Taxation 1072.251
Imposition of Ad Valorem Tax 1072.252
Tax Rate 1072.253
Tax Assessor-collector 1072.301
Dissolution 1072.302
Notice of Election 1072.303
Ballot 1072.304
Election Results 1072.305
Transfer or Administration of Assets 1072.306
Imposition of Tax and Return of Surplus Taxes 1072.307
Report
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 1072.160’s source at texas​.gov