13-14b14. Investment of special improvement funds.
13-14b14
13-14b14. Investment of special improvement funds.
The board of trustees
of a hospital of any city of the first class is
hereby authorized and empowered to invest any portion of
any special improvement
fund created under the provisions
of K.S.A. 13-14b12, and any acts amendatory thereof or supplemental
thereto, in investments authorized by K.S.A. 12-1675, and amendments thereto,
in the manner prescribed therein, or in direct obligations of the United
States government, which
mature or are redeemable without loss of principal within one year of date
of purchase, the principal and interest whereof are guaranteed by the
government of the United States. All interest received on any such
investment shall upon receipt thereof be placed in the special improvement
fund authorized by K.S.A. 13-14b12.
History: L. 1951, ch. 161, § 1; L. 1977, ch. 54, § 15; July 1.