2006 Utah Code - 17A-2-1036 — Investment of district funds.

     17A-2-1036.   Investment of district funds.
     (1) The board shall:
     (a) control the investment of all funds assigned to the district for investment, including:
     (i) funds held as part of a district's retirement system; and
     (ii) funds invested in accordance with the participating employees designation or direction pursuant to an employee's deferred compensation plan established and operated in compliance with Section 457 of the Internal Revenue Code of 1954, as amended; and
     (b) invest all funds according to the procedures and requirements of Title 51, Chapter 7, State Money Management Act.
     (2) (a) The board may appoint a custodian for the funds and securities under its control.
     (b) The board shall pay the fees for these services from the interest earnings of the investment fund.

Amended by Chapter 285, 1992 General Session