Section 8501.266 - Deposit of Proceeds(a) The proceeds of the sale of an obligation issued under this chapter may be: (1) deposited in one or more banks on which the purchaser of the obligations and the board agree; and(2) deposited and paid out under the conditions and other terms to which the purchaser and board agree.(b) The statutes of this state relating to the deposit of authority funds in the depository of the authority do not apply to the deposit of the proceeds of the sale of an obligation issued under this chapter.Tex. Spec. Dist. Loc. Laws § 8501.266
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. 4/1/2005.