59-9-55 - Investment of proceeds of bonds.
§ 59-9-55. Investment of proceeds of bonds.
Any county which has heretofore issued bonds pursuant to this chapter, is hereby authorized to invest the proceeds of such bonds not needed for immediate use in bonds, notes or other evidences of indebtedness of the United States, but such investments shall not be made except upon the approval of the development commission or port authority.
Sources: Codes, 1942, § 7605-16.5; Laws, 1962, ch. 394, § 3, eff from and after passage (approved June 1, 1962).