Tex. Local Government Code § 293.054
This is the official text of Tex. Local Government Code § 293.054, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 293.054. LEGAL AND AUTHORIZED INVESTMENTS.
Official statutory text
(a) Authority bonds are legal and authorized investments for a bank, savings bank, trust company, savings and loan association, insurance company, fiduciary, trustee, or guardian, or a sinking fund of a municipality, county, school district, or political subdivision of the state.
(b) Authority bonds may secure deposits of public funds of the state, a municipality, a county, a school district, or another political corporation or subdivision of the state. The bonds may provide this security in an amount up to their value, if all unmatured coupons, if any, are attached.
(b) Authority bonds may secure deposits of public funds of the state, a municipality, a county, a school district, or another political corporation or subdivision of the state. The bonds may provide this security in an amount up to their value, if all unmatured coupons, if any, are attached.
Status: in_force · Read it on the official government site
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