(a) The board by resolution shall designate a bank as the district's depository. A designated bank serves for two years until a successor is designated.
(b) District money, other than money invested in accordance with Chapter 2256, Government Code, and money transmitted to a bank for payment of bonds or obligations issued by the district, shall be deposited with the district depository.
(c) All district money shall be secured in the manner provided for securing county funds.