District bonds are eligible to secure deposits of public funds of the state and 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 when accompanied by all unmatured coupons.
Tex. Loc. Gov't Code § 325.087
BONDS AS SECURITY FOR DEPOSITS
Added by Acts 1989, 71st Leg., ch. 437, Sec. 1, 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.