12-875.   Same; investment of funds.The city or the authority shall have power to invest and reinvest anyfunds held in reserve or sinking funds not required for immediatedisbursement, in investments authorized by K.S.A. 12-1675, and amendmentsthereto, in the manner prescribed therein or in bonds or notes of the UnitedStates, bonds of the state ofKansas or bonds of any county or city of the first class in which saidauthority is located or in bonds of the authority at not to exceed theirpar value or their call price and to sell these securities whenever thefunds are needed for disbursement. Such investment or reinvestment of anyfunds shall not be in conflict with any provisions of any trust agreementsecuring the payment of bonds of the city or the authority.

      History:   L. 1974, ch. 260, § 6; L. 1977, ch. 54, § 6; July 1.