Texas Education Code - Section 52.13. Bonds As Investments
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§ 52.13. BONDS AS INVESTMENTS. All bonds issued pursuant
to the provisions of this chapter are legal and authorized
investments for banks, savings banks, trust companies, building and
loan associations, insurance companies, fiduciaries, trustees, and
guardians, and for the sinking funds of cities, towns, villages,
counties, school districts, and all other political subdivisions
and public agencies of the State of Texas. The bonds, when
accompanied by all unmatured coupons appurtenant to them, are
lawful and sufficient security for all deposits of state funds and
of all funds of any agency or political subdivision of the state,
and of counties, school districts, cities, and all other municipal
corporations or subdivisions at the par value of the bonds. The
bonds and the income from them, including the profits made on their
sale, shall at all times be free from taxation in this state.
Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, § 1, eff. Sept.
1, 1971.
Section: 51.968 52.01 52.02 52.03 52.04 52.11 52.12 52.13 52.14 52.15 52.16 52.17 52.18 52.19 52.20
Last modified: August 10, 2007
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