Tex. Loc. Gov't Code § 351.156 · Subchapter G. JAIL DISTRICT
BONDS AS INVESTMENTS; BONDS AS SECURITY FOR DEPOSITS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) District bonds are legal and authorized investments for:
(1) banks;
(2) trust companies;
(3) savings and loan associations;
(4) insurance companies;
(5) fiduciaries;
(6) trustees;
(7) guardians; and
(8) sinking funds of municipalities, counties, school districts, and other political subdivisions of the state and other public funds of the state and its agencies, including the permanent school fund.
(b) District bonds are eligible to secure deposits of public funds of the state and municipalities, counties, school districts, and other political subdivisions of the state. The bonds are lawful and sufficient security for deposits to the extent of their value when accompanied by all unmatured coupons.
Notes and commentary — not statutory text
History
Added by Acts 1989, 71st Leg., ch. 1, Sec. 74(a), eff. Aug. 28, 1989.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.351.htm
- Text hash
- sha256 389fba940ed1bc19452cb956989e0501d7689efa4bbc8f4469dcbd8681876cca
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.