Sec. 221.068. LEGAL INVESTMENTS; SECURITY FOR DEPOSITS. (a) Unless made ineligible under other law, rules, or rulings, bonds are legal and authorized investments for:
(1) a bank;
(2) a savings bank;
(3) a trust company;
(4) a savings and loan association;
(5) an insurance company;
(6) a fiduciary, trustee, or guardian; and
(7) a sinking fund of a municipality, county, school district, or other political corporation or subdivision of the state.
(b) The bonds may secure the deposit of public funds of the state or a municipality, county, school district, or other political corporation or subdivision of the state. The bonds are lawful and sufficient security for those deposits at their face value if accompanied by all appurtenant unmatured coupons, if any.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Subtitle A - Financing, Constructing, Regulating, and Inspecting Health Facilities
Chapter 221 - Health Facilities Development Act
Section 221.061. Authority to Issue; Use of Proceeds
Section 221.062. Information Filed With Sponsoring Entity
Section 221.065. Refunding Bonds
Section 221.066. Source of Payment; Bonds Not General Obligation