§ 6-56-106. Authorized Investments
In order to provide a safe temporary medium for investment of idle funds, municipalities are authorized to invest in the following: Bonds, notes or treasury bills of the United States; Nonconvertible debt securities of the following federal government sponsored enterprises that are chartered by the United States congress; provided, that such securities are rated in […]
§ 6-56-107. Selection of Bonds for Investment
For the purpose of carrying out § 6-56-106, the governing body of the municipality may appoint a committee with authority to act in the premises and, unless the governing body shall designate the specific series of bonds in which such funds shall be invested, the selection of the series for investment of such funds as […]