§ 8-21-9-28 — Revenue bonds to constitute legal investments for various institutions and fiduciaries

Revenue bonds issued by the department
under the provisions of this chapter shall constitute legal investments
for any private trust funds, and the funds of any banks, trust companies,
insurance companies, building and loan associations, credit unions,
banks of discount and deposit, savings banks, loan and trust and safe
deposit companies, rural loan and savings associations, mortgage
guaranty companies, small loan companies and industrial loan and
investment companies, and any other financial institutions organized
under the laws of the state of Indiana. Such bonds are hereby made
securities in which all public officers and public agencies of the state
and its political subdivisions may legally and properly invest funds and
such bonds may be properly and legally deposited with and received by
any state or municipal officer or any agency or political subdivision of
the state for any purpose for which the deposit of bonds or other
obligations of the state is now or may hereafter be authorized by law.
Formerly: Acts 1971, P.L.105, SEC.2. As amended by Acts
1980, P.L.74, SEC.359; P.L.42-1993, SEC.9.