Sec. 265.048. LEGAL INVESTMENTS; SECURITY FOR DEPOSITS. (a) Bonds issued under this subchapter 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;
(8) a guardian; and
(9) an interest and sinking fund or other public fund of the state or of an agency, subdivision, or instrumentality of the state, including a municipality, county, school district, special district, public agency, and body politic.
(b) The bonds are eligible and lawful security for the deposits of public funds of the state or of an agency, subdivision, or instrumentality of the state, including a municipality, county, school district, special district, public agency, and body politic. The bonds may secure those deposits in an amount up to the value of the bonds, if accompanied by all appurtenant unmatured interest coupons.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Chapter 265 - Joint Municipal and County Hospitals
Subchapter D. Joint County-Municipal Hospital Boards
Section 265.031. Creation of Board
Section 265.032. Appointment of Board
Section 265.034. Authority of Board
Section 265.037. Hospital Facilities; Other Property
Section 265.038. Contracts for Hospital Services
Section 265.040. Authority to Issue Revenue Bonds
Section 265.041. Terms of Bonds
Section 265.042. Pledge of Security
Section 265.043. Sale and Use of Proceeds
Section 265.044. Parity and Subordinate Lien Bonds
Section 265.045. Notice; Petition for Election
Section 265.046. Refunding Bonds
Section 265.047. Examination, Approval, and Registration of Bonds
Section 265.048. Legal Investments; Security for Deposits
Section 265.049. Charges for Services and Facilities