Sec. 452.360. 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 452 - Regional Transportation Authorities
Section 452.352. Power to Issue Bonds
Section 452.355. Approval; Registration
Section 452.356. Incontestability
Section 452.357. Security Pledged
Section 452.358. Use of Revenue
Section 452.359. Refunding Bonds
Section 452.360. Bonds as Authorized Investments
Section 452.361. Exchange of Bonds for Existing System
Section 452.362. Election to Pledge Taxes
Section 452.363. Alternate Election Procedures for Certain Authorities