Tennessee Code 13-20-612 – Housing authority obligations guaranteed by federal government eligible collateral as security for deposit of funds
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Terms Used In Tennessee Code 13-20-612
- Bonds: means any bonds, interim certificates, notes, debentures, or other obligations of the authority issued pursuant to this chapter. See Tennessee Code 13-20-102
- Federal government: includes the United States, or any agency, instrumentality, corporate or otherwise, of the United States. See Tennessee Code 13-20-102
- State: means the state of Tennessee. See Tennessee Code 13-20-102
- Statute: A law passed by a legislature.
Wherever, by statute of this state, collateral is required as security for the deposit of public or other funds, or deposits are required to be made with any public official or department, or an investment of capital or surplus, or a reserve or other fund, is required to be maintained consisting of designated securities, notes and bonds insured by the federal housing administrator and debentures issued by the federal housing administrator and obligations of national mortgage associations shall be eligible for such purposes; provided, that such obligations shall be guaranteed as to payment by the federal government or a branch thereof.