Tex. Transp. Code § 172.303 · Subchapter G. BONDS
BONDS AS AUTHORIZED INVESTMENTS AND SECURITY FOR DEPOSITS OF PUBLIC FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) District bonds 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 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, whichever is less.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.04, eff. April 1, 2011.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.172.htm
- Text hash
- sha256 319b2163a0ea98eacf33b515e66efbd5285b19304b3a6109fcaf5fe38a9303b4
- 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.