(a) Each governing body of a local government that collects a mandatory payment authorized under this chapter shall create a local provider participation fund.
(b) If a governing body of a local government creates a local provider participation fund, the governing body shall designate one or more banks as a depository for the mandatory payments received by the local government.
(c) The governing body of a local government may withdraw or use money in the local provider participation fund of the local government only for a purpose authorized under this chapter.
(d) All funds collected under this chapter shall be secured in the manner provided for securing other funds of the local government.