Tex. Water Code § 60.348
BONDS AS INVESTMENTS
Texas · Texas Water Code · Status: effective
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- Citation
- Tex. Water Code § 60.348, BONDS AS INVESTMENTS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/582229
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Full text
(a) All bonds issued pursuant to this subchapter shall be and are hereby declared to be legal and authorized investments for banks, savings banks, trust companies, building and loan associations, savings and loan associations, insurance companies, fiduciaries, trustees, guardians, and for the sinking fund of cities, towns, villages, counties, school districts, or other political corporations or subdivisions of the State of Texas.
(b) The bonds shall be eligible to secure the deposit of any and all public funds of the State of Texas, and any and all public funds of cities, towns, villages, counties, school districts, or other political corporations or subdivisions of the State of Texas and the bonds shall be lawful and sufficient security for the deposits to the extent of their face value, when accompanied by all unmatured coupons appurtenant thereto.