By: Perry S.B. No. 754
A BILL TO BE ENTITLED
AN ACT
relating to the extension and modification of a public school
district depository contract.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 45.205(b), Education Code, is amended to
read as follows:
(b) A school district and the district's depository bank may
agree to extend a depository contract for three [two] additional
two-year terms. The contract may be modified for each two-year
extension if both parties mutually agree to the terms. An extension
under this subsection is not subject to the requirements of Section
45.206.
SECTION 2. This Act takes effect September 1, 2017.