12-2812.   Investment of authority reserve or sinking funds.The authority shall have power to invest and reinvest any funds held inreserve or sinking funds not required for immediate disbursement, in investmentsauthorized by K.S.A. 12-1675, and amendments thereto, in the manner prescribedtherein or in bondsor notes of the United States, bonds of the state of Kansas or bonds of anycounty, unified school district or city of the first class in which saidauthority is operating atransportation system or in bonds or certificates of the authority at notto exceed their par value or their call price and to sell these securitieswhenever the funds are needed for disbursement. Such investment or reinvestmentof any funds shall not be in conflict with any provisions of any trust agreementsecuring the payment of bonds or certificates of the authority.

      History:   L. 1955, ch. 118, § 12; L. 1977, ch. 54, § 11; July 1.