2020 Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 3 - Provisions Applicable to Counties and Municipal Corporations.
Chapter 89B - Sale and Issuance of Bonds by Public Corporations Operating Water Systems.
Section 11-89B-6 - Investment of Bond Proceeds.
Investment of bond proceeds.
The proceeds of any such bonds issued by such public corporation and moneys held in any special fund established by such public corporation in connection with the issuance of any of its bonds may be invested in any direct obligations of the United States of America, the obligations of any agency of the United States of America, interest bearing bank deposits, or in any securities the payment of the principal of and interest on which is fully secured by direct obligations of the United States of America or in any obligations in which municipal or county funds are authorized to be invested pursuant to Section 11-81-21.
(Acts 1991, No. 91-551, p. 1015, §6.)