Sec. 223.037. BONDS AS INVESTMENTS. (a) Unless the bonds issued under this chapter are ineligible for investments in accordance with the criteria established in other statutes, rulings, or regulations of this state or the United States, the 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;
(7) a trustee or guardian; and
(8) a sinking fund of a municipality, county, school district, or other political corporation or subdivision of this state.
(b) The bonds may secure the deposits of public funds of this state or a municipality, county, school district, or other political corporation or subdivision of this state. The bonds are lawful and sufficient security for those deposits at their face value if accompanied by all appurtenant unmatured coupons.
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 223 - Hospital Project Financing Act
Subchapter C. Hospital Project Bonds
Section 223.021. Issuance of Hospital Project Bonds
Section 223.022. Election on Bonds
Section 223.023. Election Results
Section 223.024. Protest Not Filed
Section 223.025. Limitations on Bonds
Section 223.026. Form and Term of Bonds
Section 223.027. Dedicated Repayment Revenue
Section 223.028. Security for Bonds
Section 223.029. Use of Proceeds
Section 223.030. Temporary Obligations
Section 223.031. Examination of Bonds
Section 223.032. Refunding Bonds
Section 223.033. Enforcement of Agreements
Section 223.034. Membership of Governing Body Not Subject to Change
Section 223.035. Bonds Tax Exempt
Section 223.036. Bonds as Securities