Sec. 1076.157.  DEPOSITORY.  (a) The board shall select one or more banks in this state to act as a depository of bond proceeds or of revenue derived from the operation of district facilities.
(b)  The depository shall, as determined by the board:
(1)  furnish indemnity bonds;
(2)  pledge securities; or
(3)  meet any other requirement.
(c)  Membership on the district's board of an officer or director of a bank does not disqualify the bank from being selected as depository.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.