Sec. 53B.42. INVESTMENT OF FUNDS; SECURITY. To the extent it is applicable, the law as to the security for and the investment of funds, applicable to cities, controls the investment of funds belonging to authority. The bond resolution or the indenture or both may further restrict the making of investments. The authority may invest the proceeds of its bonds, until the money is needed, in the direct obligations of or obligations unconditionally guaranteed by the United States, to the extent authorized in the bond resolution or indenture or in both.
Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff. September 1, 2005.
Structure Texas Statutes
Subtitle A - Higher Education in General
Chapter 53B - Higher Education Loan Authorities
Subchapter C. Powers and Duties
Section 53B.31. No Taxing Power
Section 53B.32. No Power of Eminent Domain
Section 53B.35. Issuance of Bonds; Procedure; Etc
Section 53B.37. Junior Lien Bonds; Parity Bonds
Section 53B.38. Reserves for Operating and Other Expenses
Section 53B.39. Refunding Bonds
Section 53B.40. Approval of Bonds; Registration; Negotiability
Section 53B.41. Authorized Investments
Section 53B.42. Investment of Funds; Security
Section 53B.45. Transactions With Other Agencies and Persons
Section 53B.48. Qualified Nonprofit Corporation Acting for or on Behalf of Two or More Cities