Texas Local Government Code Sec. § 271.008 Authorized Investments The contract is a legal and authorized investment for: (1) banks, savings banks, trust companies, and savings and loan associations; (2) insurance companies; (3) fiduciaries and trustees; and (4) the sinking funds of a county, municipality, school district, or other political subdivision or corporation of this state. Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.