(a) Any municipality or any board, commission, or other authority 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 any county, or the board of trustees of any retirement system created by the General Assembly, may, in its discretion, invest any of its funds in the bonds of the Board of Developmental Disabilities Services issued under the provisions of this subchapter.
(b) The bonds issued under the provisions of this subchapter shall be eligible to secure the deposit of public funds.
Structure Arkansas Code
Title 20 - Public Health and Welfare
Chapter 48 - Treatment of Persons With Developmental Disabilities
Subchapter 5 - Human Development Centers — Property and Finances
§ 20-48-501. Liberal construction — Act supplemental
§ 20-48-502. Authority to acquire properties
§ 20-48-503. Authority to issue revenue bonds and use available funds and revenues
§ 20-48-504. Procedure for issuing revenue bonds
§ 20-48-505. Liability of Board of Developmental Disabilities Services for bonds
§ 20-48-506. Nonliability of board members for bonds — Exception
§ 20-48-507. Revenue bonds secured by pledge of gross charges and surplus charges — Definition
§ 20-48-508. Issuance of refunding bonds
§ 20-48-509. Taxation of bonds
§ 20-48-510. Municipalities, boards, commissions, etc., authorized to invest in bonds
§ 20-48-511. Developmental disabilities — Timber sales proceeds — Capital improvements and equipment