§39-69  Investment of reserves, etc. 
The director of finance, with the approval of the department, may invest any
money held as reserves or in sinking funds or not required for immediate
disbursement, including proceeds of the revenue bonds, which in the
department's judgment are in excess of the amounts necessary for the meeting of
immediate requirements, in securities permitted by the resolution or
certificate and which constitute legal investments for public funds.  Income
derived therefrom shall be treated as revenue of the undertaking or loan
program; expenses of purchase, safekeeping, sale, and redemption, and all other
expenses attributable to the investments shall be proper expenses of the
undertaking or loan program.  Securities so purchased shall be considered as
being deposited in the custody or control of the director of finance by the
department, and shall be legally secured as provided in section 38-3. [L 1988,
c 28, pt of §3]