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(a) District bonds and notes are legal and authorized investments for:
(1) a bank;
(2) a trust company;
(3) a savings and loan association; and
(4) an insurance company.
(b) The bonds and notes are:
(1) eligible to secure the deposit of public funds of this state or a municipality, a county, a school district, or any other political corporation or subdivision of this state; and
(2) lawful and sufficient security for the deposit to the extent of the principal amount or market value of the bonds or notes, whichever is less.
Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 173.303. Bonds as Authorized Investments and Security for Deposits of Public Funds - last updated April 14, 2021 | https://codes.findlaw.com/tx/transportation-code/transp-sect-173-303.html
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