Tex. Water Code Section 65.511
Obligations; Legal Investment; Security for Funds

(a)

Bonds, notes, and other obligations issued by a district are legal and authorized investments for all banks, savings banks, trust companies, savings and loan associations, insurance companies, fiduciaries, and trustees, guardians, and for interest and sinking funds and other public funds of the state and its agencies, including the permanent school fund, and counties, cities, school districts, and other political subdivisions of the state.

(b)

A district’s bonds, notes, and other obligations are eligible to secure deposits of public funds of the state and its agencies and counties, cities, school districts, and other political subdivisions of the state. The bonds, notes, and other obligations are lawful and sufficient security to the extent of their market value if accompanied by all unmatured interest coupons attached to them.

Added by Acts 1983, 68th Leg., p. 2448, ch. 435, Sec. 4, eff. Aug. 29, 1983. Amended by Acts 1985, 69th Leg., ch. 447, Sec. 1, eff. Nov. 15, 1985.

Source: Section 65.511 — Obligations; Legal Investment; Security for Funds, https://statutes.capitol.texas.gov/Docs/WA/htm/WA.65.htm#65.511 (accessed Jun. 5, 2024).

65.001
Definitions 65.011
Creation of District 65.012
Purposes of District 65.013
Composition of District 65.014
Certified Resolution Seeking Creation of District 65.015
Contents of Resolution 65.016
Consent of City 65.018
Notice and Hearing on District Creation 65.020
Hearing 65.021
Granting or Refusing Creation of District 65.022
Temporary Directors 65.023
Appeal from Order of Commission 65.101
Board of Directors 65.102
Qualifications for Directors 65.103
Election of Directors 65.201
Powers 65.203
Solid Waste 65.205
Adopting Rules 65.206
Effect of Rules 65.207
Publication of Rules 65.208
Effective Date of Rules 65.235
Prohibition on Assessment or Collection of Taxes 65.501
Issuance of Bonds and Notes 65.502
Form of Bonds and Notes 65.503
Manner of Repayment of Bonds or Notes 65.504
Additional Security for Bonds or Notes 65.505
Method for Issuance of Bonds and Notes 65.506
Provisions of Bonds or Notes 65.507
Use of Bond or Note Proceeds 65.508
Sale or Exchange of Bonds 65.510
Refunding Bonds 65.511
Obligations 65.513
Mandamus by Bondholders 65.515
Cancellation of Unsold Bonds 65.723
Consolidation of Districts 65.724
Elections to Approve Consolidation 65.725
Governing Consolidated Districts 65.726
Debts of Original Districts 65.727
Dissolution of District Prior to Issuance of Bonds 65.728
Notice of Hearing 65.729
Hearing 65.730
Board’s Order to Dissolve District 65.731
Judicial Review of Board’s Order

Accessed:
Jun. 5, 2024

§ 65.511’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._water_code_section_65.511

Original Source: Section 65.511 — Obligations; Legal Investment; Security for Funds, https://statutes.capitol.texas.gov/Docs/WA/htm/WA.65.htm#65.511 (last accessed Jun. 5, 2024).