81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85 Page: 85 of 126
126 p.View a full description of this legislative document.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
iS' (1) a bank;
(2) a trust company;
S (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 fun
ths state or a municipality, a county, a school district, o
other political corporation or subdivision of this state; and
(2) lawful and sufficient security for the depos
the extent of the principal amount or market value of the bor
notes, whichever is less. (V.A.C.S. Art. 6550c-1, Sec. 5(d).)
f i tl'1n:Wra - 'ds of
r any
sit to
ids or17
18
19
20
21
22
23
24
25
26
27..adl~x *. ~ ,orr~ni * -r - r ~ w,~u~ru~u-
rll*r-i~u~lul~t~~; sm~--
:
i
S.B. No. 1549
1' its commuter rail faciliti s. (V.A.C.S. Art. 6550c-1, Sec. 5(a)
2 (part).)
3 Sec. 173.302. SECURITY FOR PAYMENT OF BONDS. (a) To
4 secur payment of district bonds or notes, the district may:
5 } (1) encumber and pledge all or part of the revenue of
6 its commuter rail facilities; and
7 I;~i e (2) encumber all or part of the property of the
8 commuter rail facilities and everything pertaining to them acquired
9 or to be acquired.
10 (b) Unless prohibited by the resolution or indenture
11 relating to outstanding bonds or notes, a district may encumber
12 separately any item of property. (V.A.C.S. Art. 6550c-1, Sec. 5(c)
13 (part).)
14 Sec. 173.303. BONDS AS AUTHORIZED INVESTMENTS AND SECURITY
15 FOR DEPOSITS OF PUBLIC FUNDS. (a) District bonds and notes are
16 legal and authorized investments for:
Upcoming Pages
Here’s what’s next.
Search Inside
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. Senate. 81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85, legislative document, May 20, 2009; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth310917/m1/85/?rotate=270: accessed April 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.