Sec. 281.059. DEPOSITORY. The board shall designate by order or resolution one or more banks in or out of the authority's boundaries to serve as the depository for the authority's funds. All funds of the authority shall be deposited in its depository unless an order or resolution authorizing the issuance of the authority's bonds requires a different disposition. To the extent that funds in a depository bank are not insured by the Federal Deposit Insurance Corporation, they shall be secured in the manner provided for the security of county funds.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 9 - Public Buildings and Grounds
Subtitle A - Municipal Public Buildings and Grounds
Chapter 281 - Municipal Civic Center Authorities
Subchapter D. Powers and Duties
Section 281.041. Organizational Expenses
Section 281.045. Duration of Certain Leases
Section 281.047. Contracts Over $50,000
Section 281.048. Construction Bids; Contracts; Bonds
Section 281.050. Acquisition of Land and Other Property
Section 281.051. Eminent Domain
Section 281.053. Costs, Deposits, and Appeal Bonds
Section 281.054. Costs of Relocation
Section 281.055. Surplus Property
Section 281.056. Addition of Municipalities
Section 281.058. Surety Bond Premiums