Tex. Local Government Code § 105.053
This is the official text of Tex. Local Government Code § 105.053, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 105.053. SOLVENCY OF SURETY COMPANY AND ADEQUACY OF SECURITIES.
Official statutory text
At any time the governing body of the municipality considers it necessary for the protection of the municipality, the governing body may direct the designated officer to investigate the solvency of a surety company that issues a bond on behalf of a municipal depository or investigate the value of securities pledged by a depository to secure municipal funds.
Status: in_force · Read it on the official government site
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