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A BILL TO BE ENTITLED
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AN ACT
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relating to the extension and modification of a public school |
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district depository contract. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 45.205(b), Education Code, is amended to |
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read as follows: |
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(b) A school district and the district's depository bank may |
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agree to extend a depository contract for three [two] additional |
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two-year terms. The contract may be modified for each two-year |
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extension if both parties mutually agree to the terms. An extension |
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under this subsection is not subject to the requirements of Section |
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45.206. |
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SECTION 2. This Act takes effect September 1, 2017. |