Sec. 164.016. BONDS AS INVESTMENTS AND SECURITY. (a) The bonds are legal and authorized investments for banks, savings banks, trust companies, savings and loan companies, insurance companies, fiduciaries, trustees, guardians, the sinking funds of cities, towns, villages, counties, school districts, and other political subdivisions of the state, and other public funds of the state and its agencies.
(b) The bonds are eligible to secure deposits of public funds of the state and cities, counties, school districts, and other political subdivisions of the state. The bonds are lawful and sufficient security for deposits to the extent of their par value.
Added by Acts 1993, 73rd Leg., ch. 242, Sec. 3.01, eff. Aug. 30, 1993.
Structure Texas Statutes
Chapter 164 - Veterans' Financial Assistance Program
Section 164.001. Purpose and Policy
Section 164.003. Financial Assistance Programs
Section 164.005. Rights and Powers of Board
Section 164.0051. Location of Veterans Homes
Section 164.006. Issuance of Bonds
Section 164.007. Conditions for Issuance of Bonds
Section 164.008. Form of Bonds
Section 164.009. Security for the Bonds
Section 164.010. Bond Enhancement Agreements
Section 164.013. Investment Securities
Section 164.014. Approval of the Attorney General
Section 164.015. Refunding Bonds
Section 164.016. Bonds as Investments and Security
Section 164.018. No Pledge of State Faith and Credit; Covenant With Owners of Bonds