Tex. Natural Resources Code § 164.016
BONDS AS INVESTMENTS AND SECURITY
Texas · Texas Natural Resources Code · Status: effective
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- Citation
- Tex. Natural Resources Code § 164.016, BONDS AS INVESTMENTS AND SECURITY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/697091
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Full 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.