The stability and approximation properties of transfer functions of generalized Bessel polynomials (GBP) are investigated. Sufficient conditions are established for the GBP to be Hurwitz. It is shown that the Padé approximants of

are related to the GBP. An infinite subset of stable Padé functions useful for approximating a constant time delay is defined and its approximation properties examined. The low-pass Padé functions are compared with an approximating function suggested by Budak. Basic limitations of Budak\´s approximation are derived.