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Texas Transportation Code - TRANSP § 257.110. District Treasurer or Depository

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) At a joint meeting held for that purpose in the county having the greatest population, the commissioners of the counties included in whole or part in a road district established under this subchapter shall select a treasurer or depository for the district. The treasurer or depository must be a bank, banking corporation, or individual banker resident in the district.

(b) The treasurer or depository is governed by the laws and subject to the penalties applicable by law to a depository of county money.

(c) The selected treasurer or depository may not receive any road district money until the treasurer or depository gives a surety bond to the district:

(1) in an amount equal to the amount of district money deposited;

(2) made with a corporate surety authorized to do business in the state; and

(3) conditioned on the safekeeping and paying of the district money.

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Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 257.110. District Treasurer or Depository - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-257-110/

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