Sec. 9601.152. DEPOSITORY. District money shall be deposited in the depository or depositories designated by the board, except that:
(1) bond proceeds and money pledged to pay bonds, to the extent provided in the proceedings authorizing the issuance of bonds, or the trust indenture securing the bonds, may be deposited with another depository or trustee named in the proceedings or trust indenture; and
(2) money shall be remitted to each paying agent for the payment of principal of and interest on the bonds.
Added by Acts 2009, 81st Leg., R.S., Ch. 523 (S.B. 1223), Sec. 1, eff. June 19, 2009.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle L - Municipal Water Districts
Chapter 9601 - Riverbend Water Resources District
Subchapter D. General Financial Provisions
Section 9601.151. Prohibition on Assessments or Taxes
Section 9601.153. Investment of District Money
Section 9601.154. District Facilities Exempt From Taxation and Assessment