(a) Any municipality; any board, commission, or other authority duly established by ordinance of any municipality; 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, may, in its discretion, invest any of its funds not immediately needed for its purposes in revenue bonds issued under the provisions of this subchapter.
(b) Revenue bonds issued under the provisions of this subchapter shall be eligible to secure the deposit of public funds.
Structure Arkansas Code
Subtitle 16 - Public Health And Welfare Generally
Chapter 269 - Parks And Recreational Facilities
Subchapter 1 - Acquisition, Construction, and Maintenance of Recreational Facilities
§ 14-269-103. General authority — Agreements with federal agencies — Condemnation proceedings
§ 14-269-105. Bonds — Authority to issue
§ 14-269-106. Bonds — Issuance, sale, and execution
§ 14-269-107. Bonds — Issuance for refunding of obligations
§ 14-269-108. Bonds — Indebtedness as special obligation — Payment of principal and interest
§ 14-269-109. Bonds — Mortgage lien
§ 14-269-110. Bonds — Default in payment