Which of the following would not be considered a bank qualified municipal security?
a. A Hays County general obligation bond to modernize the county fire department.
b. A Lubbock County general obligation bond to build a new sewer plant.
c. A City of San Marcos general obligation bond to pay for street repairs.
d. A City of El Paso general obligation bond to pay for a new city jail.
e. A State of Texas bond to finance road repairs.
Answer: E