District bonds are eligible to secure deposits of public funds of the state and of municipalities, counties, school districts, and other political subdivisions of the state. The bonds are lawful and sufficient security for deposits to the extent of their value if accompanied by all unmatured coupons.
Tex. Health & Safety Code § 286.150
BONDS AS SECURITY FOR DEPOSITS
Added by Acts 1991, 72nd Leg., ch. 14, Sec. 121, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.