Sec 5-1172. Investment of monies in the debt service account

Latest version.

A. The authority board may authorize the authority's fiscal agent to invest and reinvest any monies in the debt service account as provided by section 5-1173.

B. The order directing an investment shall state a date on which the monies and other resources in the debt service account will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date.

C. All monies earned as interest or otherwise derived from the investment of the monies in the debt service account shall be credited as described in the authorizing resolution.

(Conditionally Rpld.)

                    
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