Sec. 8503.026. BONDS AS INVESTMENTS AND SECURITY FOR DEPOSITS. (a) All authority bonds are legal and authorized investments for individuals, partnerships, profit and nonprofit corporations, banks, savings banks, trust companies, building and loan associations, savings and loan associations, insurance companies, fiduciaries, trustees, and guardians and for the sinking funds of municipalities, counties, school districts, or other political corporations or subdivisions of this state.
(b) The bonds are eligible to secure the deposit of all public funds of this state and any public funds of municipalities, counties, school districts, or other political corporations or subdivisions of this state and are lawful and sufficient security for those deposits to the extent of their par value when accompanied by all unmatured coupons.
Added by Acts 2003, 78th Leg., ch. 996, Sec. 1, eff. Sept. 1, 2003.
Renumbered from Water Code, Section 222.026 by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 13.006(b), eff. September 1, 2007.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle G - River Authorities
Chapter 8503 - Lower Colorado River Authority
Section 8503.0021. Application of Sunset Act
Section 8503.004. Powers and Duties
Section 8503.005. Limitations of Authority
Section 8503.006. Board of Directors
Section 8503.0065. Director Training
Section 8503.007. Officers; General Manager; Employees
Section 8503.008. Disbursement of Funds; Surety Bonds
Section 8503.009. Office; Records
Section 8503.010. Conflict of Interest
Section 8503.0105. Public Engagement Policy
Section 8503.0107. Public Testimony
Section 8503.0108. Alternative Dispute Resolution Procedures
Section 8503.011. Rates and Charges
Section 8503.012. Payment of Debts
Section 8503.013. Issuance of Bonds
Section 8503.014. Default Procedures
Section 8503.016. Authority as Conservation and Reclamation District
Section 8503.017. Bonds as Negotiable Instruments
Section 8503.018. Additional Powers Relating to Contracts, Rules, and Regulations
Section 8503.019. Purchase of Bonds
Section 8503.020. Disposition of Property
Section 8503.021. Property Agreements With City of Austin
Section 8503.022. Property Useful in the Production or Utilization of Electric Energy
Section 8503.023. Public Access
Section 8503.024. Bonds Exempt From Taxation
Section 8503.025. Source of Authority
Section 8503.026. Bonds as Investments and Security for Deposits
Section 8503.027. Construction
Section 8503.028. Authority Powers in Lampasas County
Section 8503.029. Additional Specific Powers
Section 8503.030. Provision of Water to Municipality Outside Colorado River Basin
Section 8503.031. Authority of Municipality to Contract for Water
Section 8503.032. Broadband Service Infrastructure and Connectivity