Sec. 22.037. LEGAL INVESTMENTS. (a) Bonds issued under this subchapter are legal and authorized investments for banks, savings banks, trust companies, building and loan associations, savings and loan associations, insurance companies, fiduciaries, trustees, and guardians, and for the sinking funds of cities, towns, villages, counties, school districts, and other political corporations and subdivisions of the state.
(b) The bonds are eligible to secure the deposit of the public funds of the state, cities, towns, villages, counties, school districts, and other political corporations and subdivisions of the state.
(c) The bonds are lawful and sufficient security for deposits to the extent of their value when accompanied by all unmatured coupons.
Acts 1975, 64th Leg., p. 1405, ch. 545, Sec. 1, eff. Sept. 1, 1975.
Structure Texas Statutes
Subchapter C. Palo Duro Canyon State Park
Section 22.022. Powers of Department
Section 22.023. Disposition of Income
Section 22.024. Issuance of Bonds
Section 22.025. Interest on Bonds
Section 22.026. Maturity of Bonds
Section 22.027. Redemption Before Maturity
Section 22.029. Pledge of Income
Section 22.030. Right to Issue Additional Bonds
Section 22.031. Additional Security for Bonds
Section 22.033. Refunding of Bonds
Section 22.034. Employment of Personnel
Section 22.035. Approval by Attorney General
Section 22.036. Payment of Interest and Expenses
Section 22.037. Legal Investments