Tex. Spec. Dist. Local Laws Code Section 1078.159
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 1078.160 (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 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 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

Source: Section 1078.159 — Depository, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1078.­htm#1078.­159 (accessed May 4, 2024).

1078.001
Definitions 1078.002
Authority for Operation 1078.003
Essential Public Function 1078.004
District Territory 1078.005
District Support and Maintenance Not State Obligation 1078.006
Restriction on State Financial Assistance 1078.051
Board Election 1078.052
Notice of Election 1078.053
Ballot Petition 1078.054
Qualifications for Office 1078.055
Bond 1078.056
Board Vacancy 1078.057
Officers 1078.058
Compensation 1078.059
Voting Requirement 1078.060
District Administrator 1078.061
General Duties of District Administrator 1078.062
Assistant District Administrator 1078.063
Appointments and Recruitment of Staff and Employees 1078.064
Retirement Benefits 1078.101
District Responsibility 1078.102
Restriction on Houston County Taxation and Debt 1078.103
Management, Control, and Administration 1078.104
Rules 1078.105
Purchasing and Accounting Procedures 1078.106
Mobile Emergency Medical Service 1078.107
District Property, Facilities, and Equipment 1078.108
Eminent Domain 1078.109
Cost of Relocating or Altering Property 1078.110
Gifts and Endowments 1078.111
Lease of District Property 1078.112
Construction Contracts 1078.113
Operating and Management Contracts 1078.114
Contracts for Care 1078.115
Contracts with Governmental Entities for Services 1078.116
Payment for Treatment 1078.117
Reimbursement for Service 1078.118
Authority to Sue and Be Sued 1078.151
Budget 1078.152
Notice 1078.153
Amendments to Budget 1078.154
Restriction on Expenditures 1078.155
Fiscal Year 1078.156
Annual Audit 1078.157
Inspection of Annual Audit and District Records 1078.158
Financial Report 1078.159
Depository 1078.160
Spending and Investment Restrictions 1078.201
General Obligation Bonds 1078.202
Tax to Pay General Obligation Bonds 1078.203
General Obligation Bond Election 1078.204
Revenue Bonds 1078.205
Refunding Bonds 1078.206
Maturity of Bonds 1078.207
Execution of Bonds 1078.208
Bonds Exempt from Taxation 1078.251
Imposition of Ad Valorem Tax 1078.252
Tax Rate 1078.253
Tax Assessor-collector
Green check means up to date. Up to date

Accessed:
May 4, 2024

§ 1078.159’s source at texas​.gov