(a) The board by resolution shall designate a bank in Brazoria County as the district's depository.
(b) The designated bank serves as the depository for a term of two years and until a successor depository has been selected.
(c) All money of the district shall be secured in the manner provided for the security of county funds.
(d) The tax assessor and collector for Brazoria County or another official performing the duties of tax assessor and collector for the district shall:
(1) deposit all taxes collected for the district in the depository bank designated as depository for Brazoria County; and
(2) promptly transfer and deposit the money to the district's account in the district's depository.