Texas Local Government Code 131.004 – Bond
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(a) To secure the performance of a special depository contract, the special depository shall execute a bond, or bonds in the case of installments, with the same character of sureties required for regular depository bonds.
(b) The local government authority authorized by law to approve a bond of a regularly selected depository must approve a bond of a special depository.
Terms Used In Texas Local Government Code 131.004
- Contract: A legal written agreement that becomes binding when signed.