12-5709. Investment of funds.
12-5709
12-5709. Investment of funds.
The authority shall have power to invest and reinvest any
funds held in reserve or sinking funds not required for immediate disbursement,
in investments authorized by K.S.A. 12-1675, and amendments thereto, in the
manner prescribed therein or in bonds or notes of
the United States, bonds of the state of Kansas or bonds of any county,
unified school district or city of the first class in which said authority is
operating a system or in bonds or certificates of the authority at not to
exceed their par value or their call price and to sell these securities
whenever the funds are needed for disbursement. Such investment or reinvestment
of any funds shall not be in conflict with any provisions of any
trust agreement securing the payment of bonds or certificates of the authority.
History: L. 2007, ch. 120, § 9; July 1.