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Texas Local Government Code

§ 105.015 — SELECTION OF DEPOSITORY

LG § 105.015Title 4. FINANCES · Part A. MUNICIPAL FINANCES · Ch. 105. DEPOSITORIES FOR MUNICIPAL FUNDS · Art. B. ESTABLISHMENT OF DEPOSITORY

Statute text

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(a)The governing body of a municipality may authorize the designated officer to execute on the municipality's behalf one or more depository services contracts.
(b)The governing body may reject any of the applications and readvertise if all applications are rejected.
(c)The conflict of interests provisions of Section 131.903 apply to the selection of the depositories.

Legislative history

Added by Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Renumbered from Sec. 105.014 and amended by Acts 1993, 73rd Leg., ch. 234, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1993, 73rd Leg., ch. 268, Sec. 25, eff. Sept. 1, 1993.

Source: Texas Local Government Code § 105.015 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.