Sec. 351.146. DEPOSITORY. (a) The board shall name one or more banks to serve as depository for district funds.
(b) District funds, other than those transmitted to a bank of payment for bonds issued by the district, shall be deposited as received with the depository bank. This subsection does not limit the power of the board to place a part of the district's funds on time deposit or to purchase certificates of deposit.
(c) Before the district deposits funds in a bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation, the bank must execute a bond or other security in an amount sufficient to secure from loss the district funds that exceed the amount secured by the Federal Deposit Insurance Corporation.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 74(a), eff. Aug. 28, 1989.
Structure Texas Statutes
Subtitle B - County Public Safety
Chapter 351 - County Jails and Law Enforcement
Section 351.122. Eligible Counties; Purpose; Boundaries
Section 351.125. Granting or Denying Petition
Section 351.126. Appointment of Temporary Directors
Section 351.127. Confirmation Election
Section 351.128. Bond and Tax Proposition
Section 351.129. Board of Directors
Section 351.130. Method of Election; Staggered Terms; Term of Office; Election Date
Section 351.131. Oath; Compensation; Officers; Quorum
Section 351.132. General Manager; Employees
Section 351.133. District Office; Meetings; Minutes; Records; Seal
Section 351.134. Contracts; Suits; Payment of Judgment; Insurance
Section 351.135. General Powers
Section 351.136. Acquisition of Property for Site; Lease; Eminent Domain
Section 351.137. Construction Contracts
Section 351.138. Contractor's Bond
Section 351.139. Monitoring Construction Work
Section 351.140. Payment for Construction Work
Section 351.141. Final Approval and Conveyance by Board
Section 351.142. Responsibilities of Receiving County
Section 351.143. Changes and Additions to Facilities
Section 351.144. Contracts for Purchase of Vehicles, Equipment, and Supplies Over $5,000
Section 351.145. Fiscal Year; Annual Audit; Annual Budget
Section 351.148. Repayment of Organizational Expenses
Section 351.149. Issuance of Bonds
Section 351.150. Manner of Repayment of Bonds
Section 351.151. Bond and Tax Election
Section 351.152. Form of Bonds
Section 351.153. Provisions of Bonds
Section 351.154. Approval by Attorney General; Registration by Comptroller
Section 351.155. Refunding Bonds
Section 351.156. Bonds as Investments; Bonds as Security for Deposits
Section 351.157. Tax Status of Bonds