15-2091

15-2091. Authorized investments of fund
monies

A. On notice from the school facilities board, the state treasurer or bond trustee
shall invest and divest monies in either the school improvement revenue bond proceeds
fund or the school improvement revenue debt service fund in any of the following:

1. Obligations issued or guaranteed by the United States or any of the senior debt
of its agencies, sponsored agencies, corporations, sponsored corporations or
instrumentalities.

2. State, county or municipal bonds that are issued in this state and on which the
payments of interest have not been deferred.

3. Investment agreements and repurchase agreements collateralized by investments
described in paragraph 1 of this subsection.

B. The purchase of the securities shall be made by the state treasurer or bond
trustee on authority of a resolution of the board. The treasurer or bond trustee shall
act as custodian of all securities purchased. The securities may be sold on an order of
the board.