12-5809. Same; investment of funds.
12-5809
12-5809. Same; 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. 2008, ch. 85, § 9; July 1.