(a) The board shall deposit all mandatory payments received by a district in the local provider participation fund created by the district under Chapter 300A.
(b) The board may designate one or more banks as the depository for the district's local provider participation fund.
(c) The board may withdraw or use money in the district's local provider participation fund 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 governments that created the district.