Sec. 8801.064. DEPOSITORY. (a) The board shall name one or more banks to serve as depository for district money.
(b) District money must be deposited as received with the depository bank and must remain on deposit. This subsection does not limit the power of the board to place a portion of the district's money on time deposit or to purchase certificates of deposit or other authorized investments.
(c) To the extent that money in the depository is not insured by the Federal Deposit Insurance Corporation, the money must be secured as provided by Chapter 2257, Government Code.
Added by Acts 2005, 79th Leg., Ch. 238 (S.B. 1537), Sec. 6, eff. May 27, 2005.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle H - Districts Governing Groundwater
Chapter 8801 - Harris-Galveston Subsidence District
Subchapter B. District Administration
Section 8801.052. Fees of Office; Reimbursement
Section 8801.053. Board Powers and Duties
Section 8801.0552. Sworn Statement, Bond, and Oath of Office
Section 8801.057. General Manager
Section 8801.058. Employees; Bond
Section 8801.059. Employee Benefits
Section 8801.060. Expenditures
Section 8801.062. Annual Audit