Tex. Spec. Dist. Local Laws Code Section 1085.158
Depository

(a)

The board shall select one or more financial institutions to serve as a depository for district money.

(b)

District money shall be immediately deposited on receipt with a depository institution, except that sufficient money must be remitted to the institution designated for the payment of principal of and interest on the district’s outstanding bonds or other obligations assumed by the district in time for the institution to make that payment on or before the maturity date of the principal and interest.

(c)

To the extent that money in a depository institution is not insured by the Federal Deposit Insurance Corporation, the money must be secured in the manner provided by law for the security of county funds.

(d)

Membership on the district’s board of an officer or director of a financial institution does not disqualify the institution from being designated as a depository.
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

Source: Section 1085.158 — Depository, (accessed Feb. 26, 2025).

1085.001
Definitions 1085.002
Authority for Creation 1085.003
Essential Public Function 1085.004
District Territory 1085.005
District Support and Maintenance Not State Obligation 1085.006
Restriction on State Financial Assistance 1085.051
Board Election 1085.052
Notice of Election 1085.053
Ballot Petition 1085.054
Board Vacancy 1085.055
Officers 1085.056
District Administrator 1085.057
General Duties of District Administrator 1085.058
Appointment of Staff and Employees 1085.059
Retirement Program 1085.060
Legal Counsel 1085.101
District Responsibility 1085.102
Restriction on Political Subdivision Taxation and Debt 1085.103
Management, Control, and Administration 1085.104
Hospital System 1085.105
Rules 1085.106
Purchasing and Accounting Procedures 1085.107
District Property, Facilities, and Equipment 1085.108
Eminent Domain 1085.109
Gifts and Endowments 1085.110
Contracts with Governmental Entities for Care and Treatment 1085.111
Payment for Treatment 1085.151
Budget 1085.152
Notice 1085.153
Amendments to Budget 1085.154
Restriction on Expenditures 1085.155
Fiscal Year 1085.156
Audit 1085.157
Financial Report 1085.158
Depository 1085.159
Authority to Borrow Money 1085.201
General Obligation Bonds 1085.202
Tax to Pay General Obligation Bonds 1085.203
General Obligation Bond Election 1085.204
Execution of General Obligation Bonds 1085.205
Refunding Bonds 1085.206
Bonds Exempt from Taxation 1085.251
Imposition of Ad Valorem Tax 1085.252
Tax Rate 1085.253
Election to Increase Maximum Tax Rate 1085.254
Tax Assessor-collector 1085.301
Definition: Taxable Item 1085.302
Sales and Use Tax Authorized 1085.303
Sales Tax 1085.304
Use Tax 1085.305
Consideration of Tax Rate 1085.306
Applicability of Tax Code 1085.307
Repeal of Tax 1085.0585
Employment of Physicians
Green check means up to date. Up to date

Accessed:
Feb. 26, 2025

§ 1085.158’s source at