§ 12.12. Investment of sinking funds.

Latest version.

The Council shall make such investment of the moneys in the sinking fund or funds, and make such disposal of securities held in such fund as they may deem expedient, provided, however, that investments shall be made in only such securities as are approved by the laws of the state for sinking fund purposes. The Treasurer shall have the custody of all securities and moneys held in the sinking fund.

                    
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