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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) Except as provided by this section, the commission shall select a depository for the district in the same manner that a municipality selects a municipal depository under Chapter 105, Local Government Code.
(b) The commission in selecting the depository shall act in the same capacity and perform the same duties as the governing body of a municipality in selecting a municipal depository. The chairman of the commission shall act in the same capacity and perform the same duties as the mayor of a municipality. The treasurer of the district shall act in the same capacity and perform the same duties as the treasurer of a municipality.
(c) A bank, credit union, or savings association may not use personal bonds to secure district funds.
(d) Subchapter B, Chapter 2256, Government Code, does not govern the investment of district funds.
(e) Section 105.074(e), Local Government Code, applies to the designated officer of the district.
(f) The district shall adopt payment procedures consistent with Section 105.074(g), Local Government Code. The designated officer of a district may draw a check on a depository only on a warrant signed by the presiding officer and attested by the secretary of the district, or by a procedure adopted under this section.
(g) In this section, “designated officer” has the meaning assigned by Section 105.001, Local Government Code.
Cite this article: FindLaw.com - Texas Water Code - WATER § 60.271. Selection of Depository - last updated January 01, 2024 | https://codes.findlaw.com/tx/water-code/water-sect-60-271/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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