§ 69-1237 — Deposit and investment of monies.

Any monies credited to, or appropriated to, the Highway Advance Right-of-Way Acquisition and Management Fund, shall be deposited in such fund in the State Treasury. Any monies in such fund shall be invested by the State Treasurer upon direction of the State Highway Director in direct obligations of the United States of America or in certificates of deposits from banks in the State of Oklahoma acceptable as depositories by the State Treasurer, when such certificates of deposits are secured by acceptable collateral and yield as much, or more, than direct obligations of the United States of America. Any such investment shall mature in time to enable the State of Oklahoma to issue warrants against the fund for payment of indebtedness incurred for the purpose for which the Highway Advance Right-of-Way Acquisition and Management Fund is created. Any interest earned on such investments shall likewise be deposited in said fund.

Legislative History

Laws 1970, c. 118, § 4.