72-8218. Same; investment of bond retirement fund. - Kansas Statutes

72-8218

Chapter 72.--SCHOOLS Article 82.--ORGANIZATION, POWERS AND FINANCES OF BOARDS OF EDUCATION

      72-8218.   Same; investment of bond retirement fund.The board of education is hereby authorized to invest such fund inaccordance with K.S.A. 10-131 or in direct obligations of theUnited States government, maturing no later than one year from the dateof purchase or to deposit such fund in time deposits in a bank or bankssituated within the state of Kansas, and such board shall exercise duecare and diligence to the end that sufficient funds will be on hand tomake all payments of principal and interest on such bonds as suchpayments become due and payable.

      History:   L. 1968, ch. 65, § 3; L. 1977, ch. 54, § 37; July 1.