Texas Transportation Code 257.110 – District Treasurer or Depository
Current as of: 2024 | Check for updates
|
Other versions
(a) At a joint meeting held for that purpose in the county having the greatest population, the commissioners of the counties included in whole or part in a road district established under this subchapter shall select a treasurer or depository for the district. The treasurer or depository must be a bank, banking corporation, or individual banker resident in the district.
(b) The treasurer or depository is governed by the laws and subject to the penalties applicable by law to a depository of county money.
Terms Used In Texas Transportation Code 257.110
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Joint meeting: An occasion, often ceremonial, when the House and Senate each adopt a unanimous consent agreement
- Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
(c) The selected treasurer or depository may not receive any road district money until the treasurer or depository gives a surety bond to the district:
(1) in an amount equal to the amount of district money deposited;
(2) made with a corporate surety authorized to do business in the state; and
(3) conditioned on the safekeeping and paying of the district money.