Sec. 228.116. VALUATION OF BONDS SECURING DEPOSIT OF PUBLIC FUNDS

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Bonds of the commission may secure the deposit of public funds of the state or a political subdivision of the state to the extent of the lesser of the face value of the bonds or their market value.

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 2003, 78th Leg., ch. 312, Sec. 38, eff. June 18, 2003; Acts 2003, 78th Leg., ch. 1325, Sec. 15.36, eff. June 21, 2003. Transferred from Transportation Code, Section 361.188 and amended by Acts 2005, 79th Leg., Ch. 281 , Sec. 2.42, eff. June 14, 2005.

                    
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