RS 11:3139 Fiscal affairs of the fund; investments - Louisiana Statutes

§3139.  Fiscal affairs of the fund; investments

The board of trustees may at any time, after considering the probable current demands upon such Fund, determine what portion of said fund may be safely withdrawn from the current cash account for investment for revenue purposes, and having so determined, invest the same in the manner hereinafter authorized, and all proceedings of the board of trustees relating thereto shall be entered upon its records.  Such investment shall be in interest bearing bonds of the United States of America, State of Louisiana, City of Bastrop, Louisiana, or may be invested with any institution where said funds are one hundred percent insured by the United States Government.  All income from such investment shall be and become a part of said Firemen's Pension and Relief Fund.  All such securities shall be deposited with the secretary-treasurer of the board of trustees, and the receipt therefor filed in the record books.  

Designated from Acts 1972, No. 23, §8 by Acts 1991, No. 74, §3, eff. June 25, 1991.