40-1142. Investment of funds by board
The board may, by resolution, order that any of the monies in the funds under its
control which are not necessary for current operating expenses be invested in any
obligation, bonds or securities in which a city or county could invest such funds,
provided that:
1. Any such investment shall be made in such a manner that the monies in such funds
will be available at the times and in the amounts necessary to accomplish the purpose for
which such funds were established.
2. No such investment shall be made in contravention of any provision or covenant
in any proceedings for the authorization and issuance of bonds, notes, contracts or other
evidences of indebtedness.
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