Section 8510.0409 - Depository(a) The board shall designate one or more banks in the authority to serve as depository for the authority's money.(b) Authority money shall be deposited in a depository, except that: (1) money pledged to pay bonds may be deposited with the trustee bank named in the trust agreement; and(2) money shall be remitted to the bank of payment for the payment of the principal of and interest on bonds.Tex. Spec. Dist. Loc. Laws § 8510.0409
Added by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 914,Sec. 1.03, eff. 4/1/2023.