116.054 – BONDS, NOTES, AND OTHER SECURITIES. (a) A
Texas Local Government Code § 116.054
Summary
This law allows county depositories to use certain securities as collateral for financial transactions with the commissioners court. It specifically includes U.S. government-backed securities and bonds from various Texas governmental entities.
County depositories can pledge U.S. government securities as collateral.
Includes bonds from Texas state and local entities.
Ensures financial security for transactions with the commissioners court.
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In simple terms: Learn about Texas's BONDS, NOTES, AND OTHER SECURITIES. (a) A law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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