Sec. 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.
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Section: Previous 8501.256 8501.257 8501.258 8501.259 8501.260 8501.261 8501.262 8501.263 8501.264 8501.265 8501.266 8501.267 8501.268 8501.269 8501.270 NextLast modified: September 28, 2016