12-875. Same; investment of funds.
12-875
12-875. Same; investment of funds.
The city or 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 or city of the first class in which said
authority is located or in bonds 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 of the city or the authority.
History: L. 1974, ch. 260, § 6; L. 1977, ch. 54, § 6; July 1.