S.B. No. 902
AN ACT
relating to the term of a contract between an appraisal district and
the financial entity designated as the depository for the district.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subsection (c), Section 6.09, Tax Code, is
amended to read as follows:
(c) The board shall solicit bids to be designated as
depository for the district. The depository when designated shall
serve for a term of two years and until its successor is designated
and has qualified. The board and the depository may agree to extend
a depository contract for one additional [at least once in each]
two-year period.
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, 2003.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 902 passed the Senate on
May 1, 2003, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 902 passed the House on
May 28, 2003, by the following vote: Yeas 144, Nays 0, two
present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor