Sec. 364.051. DEPOSITORY OF BOND PROCEEDS AND OTHER REVENUE. (a) Any bank or trust company in this state may be the depository of the proceeds of bonds issued under this chapter or revenues derived from the operation of a toll bridge acquired under this chapter.
(b) The cash proceeds of the sale shall be deposited in the depository and shall be paid under the terms and conditions agreed on by the commissioners court and the purchasers of the bonds.
(c) A depository may furnish the indemnity bonds or pledge the securities required by the county.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle G - Turnpikes and Toll Projects
Chapter 364 - Toll Bridges in Counties Bordering the Rio Grande
Subchapter C. Bonds and Finances
Section 364.042. Authority to Borrow Money or Accept Federal Assistance
Section 364.043. Authority to Issue Bonds
Section 364.044. Revenue Bonds
Section 364.046. Mortgage or Pledge of Revenue to Secure Bonds
Section 364.047. Additional Bonds
Section 364.048. Terms of Bonds; Negotiability
Section 364.049. Sale or Exchange of Bonds
Section 364.050. Trust Indenture
Section 364.051. Depository of Bond Proceeds and Other Revenue
Section 364.052. Rights of Bondholders; Receivers
Section 364.053. Refunding Bonds