VERNON'S TEXAS CIVIL STATUTES

CHAPTER 21. HOUSING




Art. 1269k-1. Bonds or other obligations of housing authorities as 
legal investments and security

Authorization;  Purpose

Section 1. Notwithstanding any restrictions on investments 
contained in any laws of this State, the State and all public 
officers, municipal corporations, political subdivisions, and 
public bodies, all banks, bankers, trust companies, savings banks 
and institutions, building and loan associations, savings and loan 
associations, investment companies, and other persons carrying on a 
banking business, all insurance companies, insurance associations 
and other persons carrying on an insurance business and all 
executors, administrators, guardians, trustees and other 
fiduciaries may legally invest any sinking funds, moneys or other 
funds belonging to them or within their control in any bonds or 
other obligations issued by a housing authority pursuant to the 
Housing Authorities Law (Chapter 462, Regular Session of the 45th 
Legislature, as amended by House Bill No. 102, 2nd Called Session of 
the 45th Legislature, and amendments thereto)  or issued by any 
public housing authority or agency in the United States, when such 
bonds or other obligations are secured by a pledge of annual 
contributions to be paid by the United States Government or any 
agency thereof, or secured or guaranteed by a pledge of the full 
faith and credit of the United States Government or any agency 
thereof, and such bonds and other obligations shall be authorized 
security for all public deposits;  it being the purpose of this Act 
to authorize all persons, firms, corporations, associations, 
political subdivisions, bodies and officers, public or private, to 
use any funds owned or controlled by them, including, but not 
limited to, sinking, insurance, investment, retirement, 
compensation, pension and trust funds, and funds held on deposit, 
for the purchase of any such bonds or other obligations;  provided, 
however, that nothing contained in this Act shall be construed as 
relieving any person, firm, or corporation from any duty of 
exercising reasonable care in selecting securities.

Sec. 1 amended by Acts 1971, 62nd Leg., p. 2367, ch. 729, Sec. 1, 
eff. June 8, 1971.

Sec. 2. [Repeals art. 1269k, Sec. 14-A].                                      

Severability

Sec. 3. Notwithstanding any other evidence of legislative intent, 
it is hereby declared to be the controlling legislative intent that 
if any provisions of this Act, or the application thereof to any 
person or circumstances, are held invalid the remainder of the Act 
and the application of such provisions to persons or circumstances 
other than those as to which it is held invalid, shall not be 
affected thereby.

Act Controlling

Sec. 4. In so far as the provisions of this Act are inconsistent 
with the provisions of any other law, the provisions of this Act 
shall be controlling.

Acts 1939, 46th Leg., p. 427.                                                 




Art. 1269l-2. State department of health;  planning and assistance 
for political subdivisions;  acceptance of federal grants for 
housing

The Texas State Department of Health is hereby authorized, upon the 
request of the governing body of any political subdivision or the 
authorized agency of any group of political subdivisions:  (a) to 
arrange planning assistance (including surveys, community renewal 
plans, technical services, and other planning work) and to arrange 
for the making of a study or report upon any planning problem of any 
such political subdivision or political subdivisions submitted to 
the State Department of Health, provided, however, that the 
employees of the State Department of Health shall not themselves 
make such surveys, studies, or reports;  (b) to agree with such 
governing body or the agency of such governing bodies as to the 
amount, if any, to be paid to the State Department of Health for 
such service;  and (c) to apply for and accept grants from the 
Federal Government or other sources in connection with any such 
assistance, study, or report, and to contract with respect thereto.  
The regular functions of the Texas State Department of Health may be 
utilized in this program, provided that any additional employees 
shall be paid from sources other than General Revenue Funds of the 
State.

Acts 1957, 55th Leg., p. 235, ch. 112, Sec. 1;  Acts 1961, 57th Leg., 
p. 162, ch. 83, Sec. 1.