Texas Local Government Code
§ 116.024 — SELECTION OF DEPOSITORIES AND SUBDEPOSITORIES
LG § 116.024Title 4. FINANCES · Part B. COUNTY FINANCES · Ch. 116. DEPOSITORIES FOR COUNTY PUBLIC FUNDS · Art. B. ESTABLISHMENT OF DEPOSITORY
Statute text
View on source(a)At the meeting at which banks are to be selected as county depositories, the commissioners court shall:
(1)enter in the minutes of the court all applications filed with the county judge;
(2)consider all applications; and
(3)select the qualified applicants that offer the most favorable terms and conditions for the handling of the county funds.
(b)The commissioners court may reject those applicants whose management or condition, in the opinion of the commissioners court, does not warrant placing county funds in their possession.
(c)After selecting one or more county depositories, the commissioners court shall immediately return the certified checks of the rejected applicants. The commissioners court shall return the check of a successful applicant when the applicant executes and files a depository bond that is approved by the commissioners court.
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Legislative history
Acts 2007, 80th Leg., R.S., Ch. 899 (H.B. 2641), Sec. 4, eff. June 15, 2007.