(a) Revenue bonds issued under the authority of this chapter are made securities in which insurance companies, trust companies, banks, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds including capital in their control or belonging to them.
(b) The bonds are made securities which may properly and legally be deposited with, and received by, any state or municipal officer or any agency or political subdivision of this state for any purpose for which the deposit of bonds or obligations of this state is now or may hereafter be authorized by law.
(c) Any municipality or county; any board, commission, or other authority established by any such municipality or county; or the boards of trustees, respectively, of any retirement fund or retirement system created by or pursuant to authority conferred by the General Assembly may, in its discretion, invest any of its funds not immediately needed for its purposes in bonds issued under the authority of this chapter. Bonds issued under the authority of this chapter shall be eligible to secure the deposit of public funds.
Structure Arkansas Code
Subtitle 18 - Roadways, Bridges, And Parking Generally
Chapter 302 - Municipal Street And Parking Revenue Bond Act
§ 14-302-102. Purpose and construction
§ 14-302-103. Chapter cumulative
§ 14-302-105. Power of municipalities over street and parking projects
§ 14-302-106. Authority to issue bonds — Costs
§ 14-302-107. Issuance of bonds — Sale
§ 14-302-108. Execution of bonds and coupons — Seal
§ 14-302-109. Bonds as special obligations payable from street and parking revenues
§ 14-302-110. Use of street and parking revenues for the payment of bonds issued