45-2283. Investment of revenues
161 words·~1 min read·
/az/title-45/45-2283A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The authority may invest revenues of the authority in securities and deposits with a maximum maturity of three years. All revenues shall be invested in eligible investments. Eligible investments include:
1. Certificates of deposit in eligible depositories as provided in title 35, chapter 2, article 2.1.
2. Interest-bearing savings accounts in banks and savings and loan institutions doing business in this state whose accounts are insured by federal deposit insurance for their industry.
3. Repurchase agreements with a maximum maturity of one hundred eighty days.
4. Bonds or other evidences of indebtedness of the United States or any of its agencies or instrumentalities if the obligations are guaranteed as to principal and interest by the United States or by any agency or instrumentality of the United States.
5. Bonds or other evidences of indebtedness of this state or any of its counties, incorporated cities or towns or school districts.
6. Deposits placed in accordance with the procedures prescribed in section 35-323.01.