{"data":{"id":"us-tx/tex.-transportation-code-457.259","jurisdiction":"us-tx","citation":"Tex. Transportation Code § 457.259","heading":"BONDS AS AUTHORIZED INVESTMENTS.","body":"(a) An authority's bonds are authorized investments for:\n(1) a bank;\n(2) a trust company;\n(3) a savings and loan association; and\n(4) an insurance company.\n(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.\nAdded by Acts 1997, 75th Leg., ch. 165, Sec. 30.35(a), eff. Sept. 1, 1997.","path":["TRANSPORTATION CODE","TITLE 6. ROADWAYS","SUBTITLE K. MASS TRANSPORTATION","CHAPTER 457. COUNTY MASS TRANSIT AUTHORITY","SUBCHAPTER F. BONDS"],"source_url":"https://statutes.capitol.texas.gov/Docs/TN/htm/TN.457.htm#457.259","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:44Z","sha256":"07aa8b1d66bbdac595397f74d2f5eea86c1283287f4b546e1757af0ab9f4ae59","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-transportation-code-457.258","next":"us-tx/tex.-transportation-code-457.260"},"notice":"GroundRules: Original legal text. Not legal advice."}