[§342D-91]  Revenue bonds; investment of
proceeds, and redemption.  Subject to any agreement with the holders of its
revenue bonds, the director may:



(1)  Invest moneys not required for immediate use,
including proceeds from the sale of any revenue bonds, funds held in reserve or
sinking funds or any funds not required for immediate disbursement, in property
or securities in which savings banks may legally invest funds subject to their
control.  No provisions with respect to the investment of moneys or the
acquisition, operation, or disposition of property by other public bodies shall
be applicable to the director or department unless the legislature shall
specifically so state; and



(2)  Purchase revolving fund revenue bonds out of any
fund or money available therefor, and hold, cancel, or resell the revenue
bonds. [L 1997, c 221, pt of §1]