81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85 Page: 85 of 126
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S' (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 - '
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S.B. No. 1549
1' its commuter rail faciliti s. (V.A.C.S. Art. 6550c-1, Sec. 5(a)
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)
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:
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Texas. Legislature. Senate. 81st Texas Legislature, Regular Session, Senate Bill 1540, Chapter 85, legislative document, May 20, 2009; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth310917/m1/85/: accessed January 18, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.