Tex. Local Government Code § 105.054
This is the official text of Tex. Local Government Code § 105.054, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 105.054. SURRENDER OF INTEREST ON SECURITIES.
Official statutory text
Except as provided for in the collateral policies of the municipality adopted in accordance with Chapter 2257, Government Code, on request of a municipal depository, the municipality shall surrender, when due, interest coupons or other evidence of interest on securities deposited by the depository with the governing body if the securities remaining pledged by the depository are adequate to meet the requirements of this chapter and of the governing body.
Status: in_force · Read it on the official government site
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