86.533. Trustees may invest funds in certain bonds.
Trustees may invest funds in certain bonds.
86.533. The said board of trustees shall have power by amajority vote to draw said pension money from the treasury ofsuch city and invest such funds or any part thereof in the nameof "Board of Trustees of the Policemen's Pension Fund", ininterest-bearing bonds of the United States, of the state ofMissouri, of any county, township or municipal corporation of thestate, or for the purchase of any judgment in any court of recordin this state, or loan same on real estate in the city when suchpension fund is established, not, however, exceeding sixtypercent of the assessed taxpaying valuation of such real estate,and all such securities shall be deposited with the treasurer,which shall be subject to the order of the board. No loans onreal estate shall be made drawing less than four percent netinterest and such interest shall become a part of the fund whenreceived; provided, that no member of the board of trustees shallobtain a loan directly or indirectly from this fund.
(RSMo 1939 § 9481)Prior revision: 1929 § 8922
CROSS REFERENCE:
Multinational banks, securities and obligations of, investment in, when, RSMo 409.950