Sec. 364.057. LEGAL INVESTMENTS; SECURITY FOR DEPOSITS. (a) Bonds issued under this chapter are legal and authorized investments for: (1) a bank; (2) a savings bank; (3) a trust company; (4) a savings and loan association; (5) an insurance company; (6) a fiduciary; (7) a trustee; and (8) a sinking fund of a municipality, school district, or any other political corporation or subdivision of the state. (b) The bonds may secure the deposits of public funds of the state or of a political subdivision of the state. The bonds are lawful and sufficient security for those deposits in an amount up to their face value, if accompanied by all appurtenant unmatured coupons.
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