Tex. Natural Resources Code § 164.016
This is the official text of Tex. Natural Resources Code § 164.016, part of Texas’s Natural Resources Code — governs land, minerals, and natural resource management.
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§ 164.016. BONDS AS INVESTMENTS AND SECURITY.
Official statutory text
(a) The bonds are legal and authorized investments for banks, savings banks, trust companies, savings and loan companies, insurance companies, fiduciaries, trustees, guardians, the sinking funds of cities, towns, villages, counties, school districts, and other political subdivisions of the state, and other public funds of the state and its agencies.
(b) The bonds are eligible to secure deposits of public funds of the state and cities, counties, school districts, and other political subdivisions of the state. The bonds are lawful and sufficient security for deposits to the extent of their par value.
(b) The bonds are eligible to secure deposits of public funds of the state and cities, counties, school districts, and other political subdivisions of the state. The bonds are lawful and sufficient security for deposits to the extent of their par value.
Status: in_force · Read it on the official government site
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