Sec. 394.057. BOND AS AUTHORIZED INVESTMENT OR AS SECURITY FOR DEPOSIT. (a) Bonds issued under this chapter are legal and authorized investments for any bank, savings bank, trust company, savings and loan association, insurance company, fiduciary, trustee, guardian, or sinking fund of a municipality, county, school district, or other political corporation or subdivision of the state.
(b) The bonds are eligible to secure the deposit of any public funds of this state or of a municipality, county, school district, or other political corporation or subdivision of the state, and are lawful and sufficient securities for the deposits at face value if accompanied by all unmatured coupons, if any, appurtenant to the bonds.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government
Chapter 394 - Housing Finance Corporations in Municipalities and Counties
Subchapter E. Housing Finance Corporation Bonds
Section 394.051. Bonds; Investment
Section 394.052. Bond Covenants
Section 394.053. Validity of Bonds; Signatures
Section 394.054. Security for Bonds
Section 394.055. Liability for Bonds and Contracts; Debt Not Created
Section 394.056. Bond as Security
Section 394.057. Bond as Authorized Investment or as Security for Deposit