Texas Local Government Code 563.060 – Disbursement of Utility System’s Money
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(a) The board in its bylaws shall provide procedures under which money the board deposits in the county depository may be spent only after the board has determined that the money for payment was properly budgeted. Approval of the board is not required for the transfer of money to a paying agent to pay and secure an outstanding obligation.
(b) A check issued by the board must be signed by at least two persons, at least one of whom is an officer of the board.
Terms Used In Texas Local Government Code 563.060
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005