Investment of public funds in bonds

Any municipality; 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 the board of trustees of any retirement system created by the General Assembly of the State of Arkansas may, in its discretion, invest any of its funds not immediately needed for its purposes in revenue bonds issued under the authority of this chapter. Revenue bonds issued under the authority of this chapter shall be eligible to secure the deposit of public funds. Acts 1971, No. 238, § 10; A.S.A. 1947, § 82-2722. Any municipality; 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 the board of trustees of any retirement system created by the General Assembly of the State of Arkansas may, in its discretion, invest any of its funds not immediately needed for its purposes in revenue bonds issued under the authority of this chapter. Revenue bonds issued under the authority of this chapter shall be eligible to secure the deposit of public funds. Acts 1971, No. 238, § 10; A.S.A. 1947, § 82-2722.