Sec. 173.303. BONDS AS AUTHORIZED INVESTMENTS AND SECURITY FOR DEPOSITS OF PUBLIC FUNDS. (a) District bonds and notes are legal and authorized investments for: (1) a bank; (2) a trust company; (3) a savings and loan association; and (4) an insurance company. (b) The bonds and notes are: (1) eligible to secure the deposit of public funds of this state or a municipality, a county, a school district, or any other political corporation or subdivision of this state; and (2) lawful and sufficient security for the deposit to the extent of the principal amount or market value of the bonds or notes, whichever is less.
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