Sec. 281.078. BONDS AS INVESTMENTS; SECURITY. (a) Bonds issued by an authority are legal and authorized investments for a bank, a trust company, a savings and loan association, an insurance company, a fiduciary, or a trustee and for interest or sinking funds or other public funds of the state or of an agency, subdivision, or instrumentality of the state, including a county, municipality, school district, or other district, public agency, or body politic.
(b) Bonds issued by an authority may be security for deposits of public funds of the state or of an agency, subdivision, or instrumentality of the state, including a county, municipality, school district, or other district, public agency, or body politic, to the extent of the market value of the bonds and appurtenant unmatured interest coupons.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 9 - Public Buildings and Grounds
Subtitle A - Municipal Public Buildings and Grounds
Chapter 281 - Municipal Civic Center Authorities
Section 281.071. Issuance of Bonds
Section 281.072. Additional Security
Section 281.073. Bond Provisions
Section 281.074. Sale of Bonds
Section 281.075. Approval; Registration
Section 281.076. Bond Proceeds
Section 281.077. Refund of Bonds