Sec. 451.360. BONDS AS AUTHORIZED INVESTMENTS. (a) An authority's bonds are authorized investments for:
(1) a bank;
(2) a savings bank;
(3) a trust company;
(4) a savings and loan association; and
(5) an insurance company.
(b) The bonds, when accompanied by all appurtenant, unmatured coupons and to the extent of the lesser of their face value or market value, are eligible to secure the deposit of public funds of this state, a political subdivision of this state, and any other political corporation of this state.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 451 - Metropolitan Rapid Transit Authorities
Section 451.352. Power to Issue Bonds
Section 451.355. Approval; Registration
Section 451.356. Incontestability
Section 451.357. Security Pledged
Section 451.358. Pledge of Revenue Limited
Section 451.359. Refunding Bonds
Section 451.360. Bonds as Authorized Investments
Section 451.361. Exchange of Bonds for Existing System
Section 451.362. Short-Term Bonds
Section 451.3625. Bonds for Rail System; Certain Authorities