Any municipality, or any board, commission, or other authority duly established by ordinance of any municipality, or the boards of trustees, respectively, of the firemen's relief and pension fund and the policemen's pension and relief fund of any municipality, or the board of trustees of any retirement system created by the General Assembly may, in its discretion, invest any of its funds in bonds issued under the provisions of this chapter, and bonds issued under the provisions of this chapter shall be eligible to secure the deposit of public funds.Acts 1979, No. 5, § 15; A.S.A. 1947, § 19-5615.
Arkansas Legal Code