Texas § 8503.026 BONDS AS INVESTMENTS AND SECURITY FOR DEPOSITS.

Texas Statutes

§ 8503.026 — BONDS AS INVESTMENTS AND SECURITY FOR DEPOSITS.

Texas § 8503.026

Code SDSpecial District Local Laws Code

This text of Texas § 8503.026 (BONDS AS INVESTMENTS AND SECURITY FOR DEPOSITS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Special District Local Laws Code Code Ann. § 8503.026 (2026).

Text

Sec. 8503.026. BONDS AS INVESTMENTS AND SECURITY FOR DEPOSITS.

(a)All authority bonds are legal and authorized investments for individuals, partnerships, profit and nonprofit corporations, banks, savings banks, trust companies, building and loan associations, savings and loan associations, insurance companies, fiduciaries, trustees, and guardians and for the sinking funds of municipalities, counties, school districts, or other political corporations or subdivisions of this state.

(b)The bonds are eligible to secure the deposit of all public funds of this state and any public funds of municipalities, counties, school districts, or other political corporations or subdivisions of this state and are lawful and sufficient security for those deposits to the extent of their par value when accom

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Sec. 8503.026. BONDS AS INVESTMENTS AND SECURITY FOR DEPOSITS. (a) All authority bonds are legal and authorized investments for individuals, partnerships, profit and nonprofit corporations, banks, savings banks, trust companies, building and loan associations, savings and loan associations, insurance companies, fiduciaries, trustees, and guardians and for the sinking funds of municipalities, counties, school districts, or other political corporations or subdivisions of this state.
(b) The bonds are eligible to secure the deposit of all public funds of this state and any public funds of municipalities, counties, school districts, or other political corporations or subdivisions of this state and are lawful and sufficient security for those deposits to the extent of their par value when accompanied by all unmatured coupons.

Legislative History

Added by Acts 2003, 78th Leg., ch. 996, Sec. 1, eff. Sept. 1, 2003. Renumbered from Water Code, Section 222.026 by Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167 ), Sec. 13.006(b), eff. September 1, 2007.