Tex. Transp. Code Section 174.303
Bonds as Authorized Investments and Security for Deposits of Public Funds

(a)

District bonds and notes are legal and authorized investments for:

(1)

a bank;

(2)

a trust company;

(3)

a savings and loan association; and

(4)

an insurance company.

(b)

The bonds and notes are:

(1)

eligible to secure the deposit of public funds of this state or a municipality, a county, a school district, or any other political corporation or subdivision of this state; and

(2)

lawful and sufficient security for the deposit to the extent of the principal amount or market value of the bonds or notes, whichever is less.
Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.04, eff. April 1, 2011.

Source: Section 174.303 — Bonds as Authorized Investments and Security for Deposits of Public Funds, https://statutes.­capitol.­texas.­gov/Docs/TN/htm/TN.­174.­htm#174.­303 (accessed Jun. 5, 2024).

174.001
Definition of Person 174.002
Definitions 174.003
Nature of District 174.004
Requirement for Service to Municipalities in District 174.051
Creation of District 174.101
Control of District 174.102
Composition of Board 174.103
Presiding Officer 174.104
Meetings 174.105
Rules for Proceedings 174.106
Compensation 174.107
Employees 174.108
Executive Committee 174.109
Retirement Benefits 174.151
General Powers of District 174.152
Rules 174.153
Agreements Generally 174.154
Agreements with Other Entities for Joint Use 174.155
Joint Ownership Agreements 174.156
Interlocal Agreements with Commission 174.157
Awarding Construction or Purchase Contracts 174.158
Eminent Domain 174.159
Suits 174.201
General Authority over Commuter Rail Facilities 174.202
Powers Relating to District Property 174.203
Use and Alteration of Property of Another Political Subdivision 174.204
Rules Governing System and Routings 174.205
Acquisition of Property 174.206
Acquisition of Rolling Stock and Other Property 174.207
Compensation for Use of System Facilities 174.208
Operation or Use Contracts 174.209
Rail Transportation Services Agreements with Other Political Subdivisions 174.251
Fiscal Year 174.252
Annual Budget 174.253
Grants and Loans 174.254
Depository 174.255
Purchase of Additional Insured Provisions 174.256
Tax Exemption 174.301
Revenue Bonds 174.302
Security for Payment of Bonds 174.303
Bonds as Authorized Investments and Security for Deposits of Public Funds 174.304
Limit on Power 174.351
Tax Authorized 174.352
Imposition of Tax 174.353
Tax Rate 174.354
Effective Date of Tax
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 174.303’s source at texas​.gov