§ 36-83-1. Short Title
This chapter shall be known and may be cited as the “Local Government Investment Pool Act.” History. Ga. L. 1980, p. 1715, § 1.
§ 36-83-2. Legislative Findings; Purpose of Chapter
The General Assembly finds that the public interest is served by maximum and prudent investment of idle public funds so that the need for taxes and other public revenues is decreased commensurately with the earnings on such investments. The purpose of this chapter is to secure the maximum public benefit from the deposit and investment […]
§ 36-83-3. Definitions
As used in this chapter, the term: “Depository institution” means any commercial bank or trust company, mutual savings bank, savings and loan association, or building and loan association existing under the laws of this state or of the United States and domiciled in this state. “Local government” means any municipality, county, school district, special district, […]
§ 36-83-4. Authorized Investments; Delegation of Investment Authority to Financial Officer; Objective of Investment
Subject to the procedures set forth in this chapter, the governing authority of any local government may invest and reinvest any money subject to its control and jurisdiction in: Obligations of this state or of other states; Obligations issued by the United States government; Obligations fully insured or guaranteed by the United States government or […]
§ 36-83-5. Pledge of Collateral From Depository Institutions
Local governments shall require from a depository institution a pledge of collateral as provided in Chapter 8 of Title 45. History. Ga. L. 1980, p. 1715, § 5.
§ 36-83-6. Interfund Pooling for Investment Purposes
Local governments may effect and are encouraged to effect temporary transfers among separate funds, for the purpose of pooling amounts available for investment. This pooling may be accomplished through interfund advances and other appropriate means consistent with recognized principles of governmental accounting, if: Moneys are available for the investment period required; The investment fund can […]
§ 36-83-7. State Technical Assistance
The State Depository Board, through the state treasurer, may assist local governments in developing effective cash management policies and in investing funds that are temporarily in excess of operating needs by: Explaining investment opportunities provided by the local government investment pool to local governments through publications and other appropriate means; Informing local governments of the […]
§ 36-83-8. Local Government Investment Pool
A local government investment pool is created, consisting of the aggregate of all funds from local governments and all funds from other bodies created for a public purpose which the State Depository Board has agreed to accept that are placed in the custody of the state for investment and reinvestment as provided in this chapter. […]