§53-18  Investment of funds.  Aredevelopment agency may invest any of its funds not required for immediatedisbursement in securities which constitute legal investments under state lawsrelating to investment of trust funds by trust companies, including thoseauthorized by article 8 of chapter 412. [L 1949, c 379, pt of §4; RL 1955,§143-18; HRS §53-18; am L 1993, c 350, §2]