97A.7 MANAGEMENT OF FUNDS.
1. The board of trustees shall be the trustees of the retirement
fund created by this chapter as provided in section 97A.8 and shall
have full power to invest and reinvest funds subject to the terms,
conditions, limitations, and restrictions imposed by subsection 2 of
this section and chapter 12F, and subject to like terms, conditions,
limitations, and restrictions said trustees shall have full power to
hold, purchase, sell, assign, transfer, or dispose of any of the
securities and investments of the retirement fund which have been
invested, as well as of the proceeds of said investments and any
moneys belonging to the retirement fund. The board of trustees may
authorize the treasurer of state to exercise any of the duties of
this section. When so authorized the treasurer of state shall report
any transactions to the board of trustees at its next monthly
meeting.
2. The retirement fund created by this chapter may be invested in
any investments authorized for the Iowa public employees' retirement
system in section 97B.7A.
3. The treasurer of state shall be the custodian of the
retirement fund. All payments from the retirement fund shall be made
by the treasurer only upon vouchers signed by two persons designated
by the board of trustees. A duly attested copy of the resolution of
the board of trustees designating such persons and bearing on its
face specimen signatures of such persons shall be filed with the
treasurer of state as the treasurer's authority for making payments
on such vouchers. No voucher shall be drawn unless it shall
previously have been allowed by resolution of the board of trustees.
4. A member of the board of trustees or an employee of the
department of public safety shall not have a direct interest in the
gains or profits of any investment made by the board of trustees. A
trustee shall not receive any pay or emolument for the trustee's
services. A trustee or employee of the department of public safety
shall not directly or indirectly use the assets of the system except
to make current and necessary payments as authorized by the board of
trustees, nor shall a trustee or employee of the department of public
safety become an endorser or surety or become in any manner an
obligor for moneys loaned by or borrowed from the board of trustees.
97A.7 MANAGEMENT OF FUNDS.
1. The board of trustees shall be the trustees of the retirement
fund created by this chapter as provided in section 97A.8 and shall
have full power to invest and reinvest funds subject to the terms,
conditions, limitations, and restrictions imposed by subsection 2 of
this section and chapter 12F, and subject to like terms, conditions,
limitations, and restrictions said trustees shall have full power to
hold, purchase, sell, assign, transfer, or dispose of any of the
securities and investments of the retirement fund which have been
invested, as well as of the proceeds of said investments and any
moneys belonging to the retirement fund. The board of trustees may
authorize the treasurer of state to exercise any of the duties of
this section. When so authorized the treasurer of state shall report
any transactions to the board of trustees at its next monthly
meeting.
2. The retirement fund created by this chapter may be invested in
any investments authorized for the Iowa public employees' retirement
system in section 97B.7A.
3. The treasurer of state shall be the custodian of the
retirement fund. All payments from the retirement fund shall be made
by the treasurer only upon vouchers signed by two persons designated
by the board of trustees. A duly attested copy of the resolution of
the board of trustees designating such persons and bearing on its
face specimen signatures of such persons shall be filed with the
treasurer of state as the treasurer's authority for making payments
on such vouchers. No voucher shall be drawn unless it shall
previously have been allowed by resolution of the board of trustees.
4. A member of the board of trustees or an employee of the
department of public safety shall not have a direct interest in the
gains or profits of any investment made by the board of trustees. A
trustee shall not receive any pay or emolument for the trustee's
services. A trustee or employee of the department of public safety
shall not directly or indirectly use the assets of the system except
to make current and necessary payments as authorized by the board of
trustees, nor shall a trustee or employee of the department of public
safety become an endorser or surety or become in any manner an
obligor for moneys loaned by or borrowed from the board of trustees.
97A.7 MANAGEMENT OF FUNDS.
1. The board of trustees shall be the trustees of the retirement
fund created by this chapter as provided in section 97A.8 and shall
have full power to invest and reinvest funds subject to the terms,
conditions, limitations, and restrictions imposed by subsection 2 of
this section and chapter 12F, and subject to like terms, conditions,
limitations, and restrictions said trustees shall have full power to
hold, purchase, sell, assign, transfer, or dispose of any of the
securities and investments of the retirement fund which have been
invested, as well as of the proceeds of said investments and any
moneys belonging to the retirement fund. The board of trustees may
authorize the treasurer of state to exercise any of the duties of
this section. When so authorized the treasurer of state shall report
any transactions to the board of trustees at its next monthly
meeting.
2. The retirement fund created by this chapter may be invested in
any investments authorized for the Iowa public employees' retirement
system in section 97B.7A.
3. The treasurer of state shall be the custodian of the
retirement fund. All payments from the retirement fund shall be made
by the treasurer only upon vouchers signed by two persons designated
by the board of trustees. A duly attested copy of the resolution of
the board of trustees designating such persons and bearing on its
face specimen signatures of such persons shall be filed with the
treasurer of state as the treasurer's authority for making payments
on such vouchers. No voucher shall be drawn unless it shall
previously have been allowed by resolution of the board of trustees.
4. A member of the board of trustees or an employee of the
department of public safety shall not have a direct interest in the
gains or profits of any investment made by the board of trustees. A
trustee shall not receive any pay or emolument for the trustee's
services. A trustee or employee of the department of public safety
shall not directly or indirectly use the assets of the system except
to make current and necessary payments as authorized by the board of
trustees, nor shall a trustee or employee of the department of public
safety become an endorser or surety or become in any manner an
obligor for moneys loaned by or borrowed from the board of trustees.
