CHAPTER 21. HOUSING
VERNON'S CIVIL STATUTES
TITLE 28. CITIES, TOWNS AND VILLAGES
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. 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.
Sec. 1 amended by Acts 1971, 62nd Leg., p. 2367, ch. 729, Sec. 1,
eff. June 8, 1971.
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.