(a) Any city or town in this state or any board, commission, or other authority duly established by ordinance of any such city or town or the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any such city or town may invest any of its funds not immediately needed for its purposes in the bonds or other obligations of any industrial or economic development corporation having its principal office in the county in which any such city or town is located.
(b) The board of trustees of any retirement system created by the General Assembly, in its discretion, may invest its funds in first lien coupon bonds of any corporation organized under the provisions of this act.
Section: Previous 15-4-510 15-4-511 15-4-512 15-4-513 15-4-514 15-4-515 15-4-517 15-4-518 15-4-520 15-4-521 15-4-522 15-4-523 15-4-524 15-4-525 NextLast modified: November 15, 2016