6144 - INVESTMENT INCOME
The Board authorizes the District Administrator to make investments of available monies from the funds of the District on a competitive basis in:
time deposits in any credit union, bank, savings bank, trust company, or savings and loan association which is authorized to transact business in the State, if the time deposits mature in not more than three (3) years;
bonds or securities issued or guaranteed as to principal and interest by the Federal government or by a commission, board, or other instrumentality of the federal government;
bonds or securities of any county, city, drainage district, technical college district, village, town, or school district in the State;
other securities authorized by 66.0603;
the local government pooled-investment fund.
Interest derived from an investment shall be deposited, except as otherwise provided by law, in the District's General Fund.
Revised 3/26/12
T.C. 7/10/25
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