(a) Not later than the 30th day after the appointment of the board, the board shall:
- (1) select a depository for district funds in the manner provided by law for the selection of a county depository; or
- (2) elect to use the county depository.
- (b) If the board selects a depository in accordance with Subsection (a)(1), the depository shall serve as the district depository for two years and until its successor is selected and qualified.
- (c) All income of the district shall be deposited in the district depository.
- (d) The county clerk's signature is not required on warrants against district funds.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.