Any municipality, or any board, commission, or other authority duly established by ordinance of any municipality, or the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any municipality, or the board of trustees of any retirement system created by the General Assembly of the State of Arkansas, may, in its discretion, invest any of its funds not immediately needed for its purposes in bonds issued under the provisions of this chapter. Bonds issued under the provisions of this chapter shall be eligible to secure the deposit of public funds.
Structure Arkansas Code
Subtitle 8 - Public Facilities Generally
Chapter 137 - Public Facilities Boards
§ 14-137-102. Legislative determination and purpose
§ 14-137-104. Provisions supplemental and controlling
§ 14-137-106. Creation — Purposes — Definition
§ 14-137-107. Creating ordinance — Authority
§ 14-137-109. Officers — Executive director
§ 14-137-110. Meetings — Records
§ 14-137-111. Powers generally — Bidding and appraisal requirements
§ 14-137-112. Acquiring and transferring facilities
§ 14-137-113. Postsecondary education or occupational training facilities
§ 14-137-114. Tax exemption of properties
§ 14-137-115. Use of funds and revenue — Bonds
§ 14-137-116. Issuance, sale, and execution of bonds
§ 14-137-118. Investment of public funds in bonds
§ 14-137-119. Bonds — Tax exemption
§ 14-137-120. Obligations on bonds
§ 14-137-121. Mortgage liens — Enforcement