81R5153 TJS-D
By: King of Zavala H.B. No. 1497
A BILL TO BE ENTITLED
AN ACT
relating to the depository of the Maverick County Hospital District
and to the investment of the district's money.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 15, Chapter 172, Acts of the 59th
Legislature, Regular Session, 1965, is amended to read as follows:
Sec. 15. (a) The [Within 30 days after the qualification
of the Board of Directors, the] Board shall by resolution designate
a depository for the District in accordance with Chapter 105, Local
Government Code [bank within the county in which the District is
located to be the depository of the District]. A depository may
serve for not more than five years and until a successor is
designated.
(b) The District's operating accounts [All funds of the
District] shall be deposited in the depository and shall be secured
in the manner provided by Chapter 2257, Government Code.
(c) District money available for investment shall be
invested in accordance with Chapter 2256, Government Code [now
provided for the security of county funds. The depository shall
serve for a period of two years and until a successor has been named
in accordance with this section].
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.