Sec. 281.024.  BOND;  OATHS OF OFFICE.  (a)  As soon as practicable after a director is appointed, the director shall execute a bond that is:
(1)  in the amount of $5,000;
(2)  payable to the authority;  and
(3)  conditioned that the director will faithfully perform the director's duties.
(b)  Each director shall take the oath of office prescribed by the constitution and a written oath that the director will not have an interest, directly or indirectly, in a contract with, or claim against, the authority except for a contract or claim expressly authorized by law or a warrant issued to the director as a fee of office.
(c)  After a petition for the creation of an authority is granted, the first members of the board must execute their bonds and take the oaths.  After the bonds are executed and the oaths are taken, the board shall meet and organize.
(d)  The bond of a director on the first board must be approved by the county judge.  The bond of a subsequent director must be approved by the board.
(e)  The bond and oaths required by this section must be filed with the authority and the authority shall keep the bond and oaths in its records.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.