116.058 – AMOUNT OF SECURITY REQUIRED. (a) Personal or
Texas Local Government Code § 116.058
Summary
This law mandates that personal or surety bonds securing county deposits must match the estimated highest daily balance of the county. The commissioners court is responsible for determining this amount, ensuring it is not less than 75% of the previous year's highest daily balance, adjusted for bond funds.
Bonds must equal the estimated highest daily balance of the county.
Minimum bond amount is 75% of last year's highest daily balance.
Commissioners court determines the bond amount.
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In simple terms: Learn about Texas's AMOUNT OF SECURITY REQUIRED. (a) Personal or law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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