Tex. Transp. Code § 457.259 · Subchapter F. BONDS
BONDS AS AUTHORIZED INVESTMENTS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An authority's bonds are authorized investments for:
(1) a bank;
(2) a trust company;
(3) a savings and loan association; and
(4) an insurance company.
(b) The bonds, when accompanied by all appurtenant, unmatured coupons and to the extent of the lesser of their face value or market value, are eligible to secure the deposit of public funds of this state, a political subdivision of this state, and any other political corporation of this state.
Notes and commentary — not statutory text
History
Added by Acts 1997, 75th Leg., ch. 165, Sec. 30.35(a), eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.457.htm
- Text hash
- sha256 98dfb80a8fc6423bf7f659e44ebbc501b747224adb26841e10750d41ba038229
- 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.