Sec. 293.054. LEGAL AND AUTHORIZED INVESTMENTS. (a) Authority bonds are legal and authorized investments for a bank, savings bank, trust company, savings and loan association, insurance company, fiduciary, trustee, or guardian, or a sinking fund of a municipality, county, school district, or political subdivision of the state.
(b) Authority bonds may secure deposits of public funds of the state, a municipality, a county, a school district, or another political corporation or subdivision of the state. The bonds may provide this security in an amount up to their value, if all unmatured coupons, if any, are attached.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 9 - Public Buildings and Grounds
Subtitle B - County Public Buildings
Chapter 293 - County Building Authority Act
Section 293.051. Revenue Bonds
Section 293.052. Junior Lien Bonds; Parity Bonds
Section 293.053. Examination and Approval
Section 293.054. Legal and Authorized Investments