Tex. Spec. Dist. Local Laws Code Section 9011.201
Depository

(a)

The board shall designate one or more banks to serve as depository for the district’s money.

(b)

District money shall be deposited with a designated depository bank, except that:

(1)

money pledged to pay bonds may be deposited with the trustee bank named in the trust indenture; and

(2)

money shall be remitted to the bank of payment for the payment of principal of and interest on bonds.

(c)

To the extent that money in a depository bank or the trustee bank 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 board of an officer or director of a bank does not disqualify the bank from being designated as a depository.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.12, eff. April 1, 2009.

Source: Section 9011.201 — Depository, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­9011.­htm#9011.­201 (accessed Jun. 5, 2024).

9011.001
Definitions 9011.002
Nature of District 9011.003
Finding of Benefit and Public Purpose 9011.051
District Territory 9011.052
Annexation of Territory by Landowner Petition 9011.053
Petition Requirements 9011.054
Hearing on Petition 9011.055
Notice of Hearing 9011.056
Board Annexation of Territory 9011.057
Ratification Election 9011.058
Annexed Territory’s Responsibility for District Debt or Taxes 9011.059
Annexation of Territory in a Municipality 9011.101
Composition of Board 9011.102
Qualifications for Office 9011.103
Directors’ Election 9011.104
Ballot Petition 9011.105
Appointment of Secretary and Treasurer 9011.106
Vote by Board President 9011.107
Director’s and Treasurer’s Bond 9011.108
Compensation 9011.151
Water Control and Improvement District Powers 9011.152
Water Supply and Distribution 9011.153
Eminent Domain 9011.154
Cost of Relocating or Altering Property 9011.155
Award of Certain Construction or Purchase Contracts 9011.156
Contracts Regarding Water or Sewer Facilities 9011.157
Contracts and Cooperation with Municipality Inside District 9011.158
Prohibited Agreements 9011.201
Depository 9011.202
Imposition of Ad Valorem Taxes 9011.203
Tax Assessor and Collector 9011.204
Projects Exempt from Assessment or Taxation 9011.251
Authority to Issue Bonds 9011.252
Form of Bonds 9011.253
Maturity 9011.254
Election for Bonds Payable from Ad Valorem Taxes 9011.255
Bonds Payable from Revenue 9011.256
Tax and Rate Requirements 9011.257
Additional Security 9011.258
Trust Indenture or Deed of Trust 9011.259
Use of Bond Proceeds 9011.260
Appointment of Receiver 9011.261
Refunding Bonds 9011.262
Bonds Exempt from Taxation
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Accessed:
Jun. 5, 2024

§ 9011.201’s source at texas​.gov