Texas Education Code - Section 66.24. Authorized Investments; Security For Deposits
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§ 66.24. AUTHORIZED INVESTMENTS; SECURITY FOR
DEPOSITS. All bonds and notes, whether original or refunding,
issued pursuant to the constitutional provisions or issued pursuant
to this subchapter, shall be fully negotiable instruments, and all
bonds and notes are declared to be legal and authorized investments
for banks, savings banks, trust companies, building and loan
associations, savings and loan associations, insurance companies,
fiduciaries, trustees, guardians, and for the sinking funds of
cities, towns, villages, counties, school districts, and all other
political corporations or subdivisions of the State of Texas; and
the bonds and notes shall be eligible to secure the deposit of any
and all public funds of the State of Texas, and any and all public
funds of cities, towns, villages, counties, school districts, and
all other political corporations or subdivisions of the State of
Texas; and the bonds and notes shall be lawful and sufficient
security for those deposits to the extent of their par value when
accompanied by all unmatured coupons appurtenant to them.
Acts 1971, 62nd Leg., p. 3150, ch. 1024, art. 1, § 1, eff. Sept.
1, 1971.
Section: 66.06 66.07 66.08 66.09 66.21 66.22 66.23 66.24 66.25 66.41 66.42 66.43 66.44 66.45 66.61
Last modified: August 10, 2007
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