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<br />Art. 842a BONDS-COUNTY, MUNICIPAL, ETC.
<br />. Title 22
<br />sociations chartered under the laws of Texas or by Federal Savings and Loan Asso ' -
<br />ti domiciled in Texas, then such mortgages, bonds, consolidated bonds issued <ler
<br />the no Credit Act of 1971, P.L, 92-181, and as thereafter amended, debenture notes,
<br />coIlate trust certifiCif.es or other such evidences of indebtedness, "insured counts,"
<br />so issue nd so secured, or so acquired ,or insured, shall be regarded fo mvestment
<br />purposes by . surance companies as "Texas Securities," within the mean' g of the laws
<br />of Texas gove 'ng such investments.. , ,. .. .
<br />The provisions this Act shall be cumulative of all other pr Isions of the "Civil
<br />Statutes of the Sta f Texas, affecting the investment of funds moneys by fiduciar-
<br />ies, guardians, admim ators, trustees and receivers, buildi and loan associations,
<br />savings departments of ti ks, incorporated and doing busin s under the laws of Texas,
<br />commercial banks, savings anks and trust companies, artered and doing business
<br />under the laws of Texas, insu nce companies of any 'd and character, chartered and
<br />transacting business under the I s of Texas, and al orporate creatures, organized and
<br />doing business under the laws of as. . , .
<br />. It is he~eby declared to, be the legisl 've inte enact a separate. provision of this Act"
<br />independent of all other provisions, and e ct that any phrase, sentence, or clause of
<br />this Act shall be declared unconstitutional all in no event affect the validity of any of
<br />the provisions hereof. ._ . . . .
<br />Amended by Acts 1973, 63rd Leg., p. 125
<br />112 U.S.C.A. f 1701 et seq.
<br />z 12 U.S.a.A. f 1724 et seq:
<br />. 12 u.~.a.A. f 2~1 ~t Beq.
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<br />CrosB ~rerenc:e~ .
<br />School Depository Act, B
<br />by this article as approv. securities, Bee V.T.
<br />C.A. Education Code, .73(4)(B).
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<br />Art. 842a-l.
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<br />ligations wholly or portly insured by United States r state, invest-
<br />ment in
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<br />CraBB He encel
<br />Cer' cates of title for motor vehicles. disposi-
<br />tion nd investment of fees, Bee art. 6687-1,
<br />g (b);' .
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<br />.. Art. 842a-2. Public Funds Investment Act
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<br />" Short Title .
<br />.Sec. 1. :rhis Act may be cited as th~.Public Funds. Investme~t Act of 1987.
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<br />Authorized Investments
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<br />T~t of subsec. (a) as amended by Acts 1989, 71st Leg.; ch.. 39, 11 and. Acts
<br />1989, 71st Leg., ch. 628, 11 . .
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<br />Sec. 2. (a) An incorporated city or town; a county, a public school district, a district or
<br />authority' created under Article III, Section 52(b)(1) or (2), or Article XVI, Section 59, of
<br />the Texas Constitution, an institUtion of J:ligher education as defined by Se.ction 61.003 of
<br />the EduCation Code, a hospital district, a fresh water supply district, or any .nonprofit
<br />corporation acting on behalf.of any of those entities may; in accordance' witlt this Act,
<br />purchase, seIl, and invest its funds and funds under its control in the following:
<br />, (1) obligations of the United States or itS agencies imd instrumentalities;' .. .
<br />. (2) direct obligations' of the State of Texas or its agencies; . .. .
<br />. (3) other obligations, the principal of and interest on which are unconditionally guaran-
<br />teed or insured by the State of Texas or the United States or its agencies and instrumen-
<br />talities;.~:,'; ,: - !. .. :'." .... . . . . .
<br />, (4) obligations of states, agencies, counties, cities, and other political subdivisions of
<br />any state having. been rated as to investment quality by a nationally recognized invest-
<br />ment rating: fu-m and having. received a rating of not less than A. or its equivalent;
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