Arizona § 9-492 Investment of sinking funds and surplus or idle funds of municipality

Arizona Statutes

§ 9-492 — Investment of sinking funds and surplus or idle funds of municipality

Arizona § 9-492

Title 9Arizona Revised Statutes

Ch. 4GENERAL POWERS

Art. 8Miscellaneous

This text of Arizona § 9-492 (Investment of sinking funds and surplus or idle funds of municipality) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 9-492 (2026).

Text

A.The governing body of a municipality may invest its sinking funds in United States, state, or county bonds or in bonds, debentures or other obligations issued by the federal land banks, the federal intermediate credit banks or the banks for cooperatives.

B.In addition to the provisions of subsection A of this section, the governing body of a municipality may invest its surplus or idle funds in United States treasury bills, notes or bonds which have a maturity date of not more than one year from the date of investment and in accounts of any savings and loan association insured by an agency of the government of the United States, up to the amount of such insurance.

C.In addition to the provisions of subsections A and B of this section, the governing body of a municipality may invest i

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A. The governing body of a municipality may invest its sinking funds in United States, state, or county bonds or in bonds, debentures or other obligations issued by the federal land banks, the federal intermediate credit banks or the banks for cooperatives.

B. In addition to the provisions of subsection A of this section, the governing body of a municipality may invest its surplus or idle funds in United States treasury bills, notes or bonds which have a maturity date of not more than one year from the date of investment and in accounts of any savings and loan association insured by an agency of the government of the United States, up to the amount of such insurance.

C. In addition to the provisions of subsections A and B of this section, the governing body of a municipality may invest its surplus or idle funds in accordance with the procedures prescribed in section 35-323.01.