Sec. 364.051. DEPOSITORY OF BOND PROCEEDS AND OTHER REVENUE. (a) Any bank or trust company in this state may be the depository of the proceeds of bonds issued under this chapter or revenues derived from the operation of a toll bridge acquired under this chapter.
(b) The cash proceeds of the sale shall be deposited in the depository and shall be paid under the terms and conditions agreed on by the commissioners court and the purchasers of the bonds.
(c) A depository may furnish the indemnity bonds or pledge the securities required by the county.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Section: Previous 364.024 364.041 364.042 364.043 364.044 364.045 364.046 364.047 364.048 364.049 364.050 364.051 364.052 364.053 364.054 NextLast modified: September 28, 2016