House Journal: Page 1626: Wednesday, April 19, 2000
6 subdivision of this state or make bonds issued
7 pursuant to this section payable out of any moneys
8 except those in the school infrastructure fund.
9 3. The proceeds of bonds issued by the treasurer
10 of state and not required for immediate disbursement
11 may be deposited with a trustee or depository as
12 provided in the bond documents and invested or
13 reinvested in any investment approved by the treasurer
14 of state and specified in the trust indenture,
15 resolution, or other instrument pursuant to which the
16 bonds are issued without regard to any limitation
17 otherwise provided by law.
18 4. The bonds shall be:
19 a. In a form, issued in denominations, executed in
20 a manner, and payable over terms and with rights of
21 redemption, and be subject to such other terms and
22 conditions as prescribed in the trust indenture,
23 resolution, or other instrument authorizing their
24 issuance.
25 b. Negotiable instruments under the laws of the
26 state and may be sold at prices, at public or private
27 sale, and in a manner, as prescribed by the treasurer
28 of state. Chapters 73A, 74, 74A, and 75 do not apply
29 to the sale or issuance of the bonds.
30 c. Subject to the terms, conditions, and covenants
31 providing for the payment of the principal, redemption
32 premiums, if any, interest, and other terms,
33 conditions, covenants, and protective provisions
34 safeguarding payment, not inconsistent with this
35 section and as determined by the trust indenture,
36 resolution, or other instrument authorizing their
37 issuance.
38 5. The bonds are securities in which public
39 officers and bodies of this state; political
40 subdivisions of this state; insurance companies and
41 associations and other persons carrying on an
42 insurance business; banks, trust companies, savings
43 associations, savings and loan associations, and
44 investment companies; administrators, guardians,
45 executors, trustees, and other fiduciaries; and other
46 persons authorized to invest in bonds or other
47 obligations of the state, may properly and legally
48 invest funds, including capital, in their control or
49 belonging to them.
50 6. Bonds must be authorized by a trust indenture,
Page 3
1 resolution, or other instrument of the treasurer of
2 state. However, a trust indenture, resolution, or
3 other instrument authorizing the issuance of bonds may
4 delegate to an officer of the issuer the power to
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