Bonds issued under this part are securities:
(1) that may be deposited with and received by a unit of the State or a political subdivision for any purpose for which the deposit of bonds or obligations of the State is authorized by law; and
(2) in which any of the following persons or entities may invest money:
(i) an officer or a unit of the State or a political subdivision of the State;
(ii) a bank, a trust company, a savings and loan association, or an investment company;
(iii) an insurance company; and
(iv) a personal representative, trustee, or other fiduciary.
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