Tex. Local Gov't Code Section 271.051
Certificates as Investments or as Security for Deposits


(a)

Certificates approved by the attorney general are legal and authorized investments for:

(1)

banks, savings banks, trust companies, and savings and loan associations;

(2)

insurance companies;

(3)

fiduciaries, trustees, and guardians; and

(4)

sinking funds of municipalities, counties, school districts, or other political corporations or subdivisions of the state.

(b)

Certificates approved by the attorney general are eligible to secure deposits of public funds of the state or a municipality, county, school district, or other political corporation or subdivision of the state. The certificates are sufficient security for the deposits to the extent of the face value of the certificates, if accompanied by any appurtenant unmatured interest coupons.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Source: Section 271.051 — Certificates as Investments or as Security for Deposits, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­271.­htm#271.­051 (accessed Mar. 23, 2024).

271.001
Short Title
271.002
Purpose
271.003
Definitions
271.004
Real Property and Improvements for School Districts
271.005
Authority to Contract for Personal Property
271.006
Compliance with Other Requirements
271.007
Approved and Registered Contract
271.008
Authorized Investments
271.009
Term of Contract
271.021
Definitions
271.022
Exempt Contract
271.023
Conflict of Laws
271.024
Competitive Procurement Procedure Applicable to Contract
271.025
Advertisement for Bids
271.026
Opening of Bids
271.027
Award of Contract
271.028
Effect of Noncompliance
271.029
Criminal Penalties
271.041
Short Title
271.042
Purpose
271.043
Definitions
271.044
Subchapter Available to Certain Municipalities
271.045
Purposes for Which Certificates May Be Authorized
271.046
Additional Purposes for Certificates
271.047
Authorization of Certificates by Ordinance or Order
271.048
Claims and Accounts
271.049
Notice of Intention to Issue Certificates
271.050
Sale of Certificates
271.051
Certificates as Investments or as Security for Deposits
271.052
Certificates Payable from and Secured by Other Revenues
271.053
Certificates as Debt and Security
271.054
Competitive Procurement Requirement
271.055
Notice to Bidders
271.056
Exemptions from Advertisement Requirement
271.057
Award of Contract
271.058
Authority to Reject Bids
271.059
Contractor’s Bonds
271.060
Change Orders
271.061
Compensation on Unit Price Contracts
271.062
Certain Contracts Not Required to Be in Writing
271.063
Unconstitutional Procedure Corrected by Resolution of Issuer
271.064
Criminal Penalties
271.0065
Additional Competitive Procedures
271.081
Definition
271.082
Purchasing Program
271.083
Local Government Participation
271.091
Definitions
271.092
Agreement with Texas Bond Review Board and Comptroller
271.093
Form of Agreement
271.094
Notice, Deposit of Debt Service, Authorization, and Transmittal
271.095
Right to Pledge Payments
271.096
Administration, Rules, Fees
271.101
Definitions
271.102
Cooperative Purchasing Program Participation
271.103
Federal Supply Schedule Sources
271.151
Definitions
271.152
Waiver of Immunity to Suit for Certain Claims
271.153
Limitations on Adjudication Awards
271.154
Contractual Adjudication Procedures Enforceable
271.155
No Waiver of Other Defenses
271.156
No Waiver of Immunity to Suit in Federal Court
271.157
No Waiver of Immunity to Suit for Tort Liability
271.158
No Grant of Immunity to Suit
271.160
Joint Enterprise
271.181
Definitions
271.182
Applicability
271.186
Limitation on Number of Projects
271.0245
Additional Competitive Procedures
271.0275
Safety Record of Bidder Considered
271.0461
Additional Purpose for Certificates: Demolition of Dangerous Structures or Restoration of Historic Structures
271.0525
Refinancing Certificates Issued by County
271.0565
Pre-bid Conference
271.901
Procedure for Awarding Contract if Municipality or District Receives Identical Bids
271.902
Prohibition of Conflict of Interest in Purchase by Municipality or County from Cooperative Associations
271.903
Commitment of Current Revenue
271.904
Engineering or Architectural Services Contracts: Indemnification Limitations
271.905
Consideration of Location of Bidder’s Principal Place of Business
271.906
Reverse Auction Method of Purchasing
271.907
Vendors that Meet or Exceed Air Quality Standards
271.908
Local Government Contracts with Private Entities for Civil Works Projects and Improvements to Real Property
271.9041
Appraisal Service Contracts
271.9051
Consideration of Location of Bidder’s Principal Place of Business in Certain Municipalities

Accessed:
Mar. 23, 2024

§ 271.051’s source at texas​.gov