|
|
Court OpinionsState LawsUS CodeUS Constitution |
Texas Local Government Code - Chapter 105 Depositories For Municipal FundsLegal Research Home > Texas Lawyer > Local Government Code > Texas Local Government Code - Chapter 105 Depositories For Municipal Funds Sponsored LinksIn this chapter: (1) "Bank" means a state bank or a national bank that has its main office or a branch office in this state. ... This chapter applies to the funds, including school funds, of any municipality or any department or agency of the municipality. Acts 1987, 70th Leg., ch. ... (a) Before awarding a depository services contract to a depository, the governing body of a municipality shall receive applications for the performance of depository services ... (a) The designated officer shall give notice to banks, credit unions, and savings associations requesting the submission of applications for the performance of depository services. ... The designated officer may not consider an application if it is received after the date specified in the notice for receiving applications by the designated ... In reviewing the applications, the designated officer shall consider the terms and conditions for the performance of depository services, including the type and cost of ... (a) The governing body of a municipality may authorize the designated officer to execute on the municipality's behalf one or more depository services contracts. (b) ... (a) The governing body shall designate, by an order recorded in its minutes, the bank, credit union, or savings association to serve as a depository ... A municipality may approve, execute, and deliver any depository services contract whose term does not exceed five years. The depository services contract may only contain ... In addition to depository services, a municipality may contract with financial institutions, including banks, credit unions, and savings associations, for additional financial services under a ... (a) The bank or savings association, to qualify as a municipal depository, must, not later than five days before the commencement of the term of ... (a) One or more bonds issued and executed by one or more solvent surety companies authorized to do business in this state, payable to the ... (a) The depository shall: (1) keep the municipal funds covered by the depository services contract; (2) perform all duties and obligations imposed on the depository ... (a) A depository services contract shall contain terms and conditions relating to the possession, substitution, or release of security, including: (1) requiring the depository to ... At any time the governing body of the municipality considers it necessary for the protection of the municipality, the governing body may direct the designated ... Except as provided for in the collateral policies of the municipality adopted in accordance with Chapter 2257, Government Code, on request of a municipal depository, ... (a) The governing body of the municipality may determine and designate in the depository services contract the character and amount of municipal funds that will ... The provisions of Chapter 810, Acts of the 66th Legislature, Regular Session, 1979 (Article 4413(34c), Vernon's Texas Civil Statutes), and Subchapter A, Chapter 2256, Government ... Not later than 60 days from the date the governing body of the municipality designates a depository in accordance with the provisions of Section 105.016, ... (a) The funds of the municipality may be paid out of a depository only at the direction of a designated officer. (b) Except as provided ... Checks drawn by the treasurer of the municipality against municipal funds on deposit are payable by the depository at its place of business in the ... The governing body of the municipality may direct the designated officer to withdraw from a depository and deposit money sufficient to pay a bond, coupon, ... (a) The designated officer is not responsible for any loss of municipal funds through the negligence, failure, or wrongful act of a depository. This subsection ... In conjunction with the publication of the annual financial statement of the municipality, the designated officer shall prepare a report which shall describe in summary ... Last modified: August 11, 2007 |