Monies in any fund or account established by the provisions of this subchapter, including monies derived from the proceeds of sale of the bonds, may be invested in obligations of the United States of America in the manner and subject to the limitations provided in Public Act 94 of 1933, being M.C.L.A. §§ 141.101 through 141.138, as amended. In the event the investments are made, the securities representing the same shall be kept on deposit with the bank or trust company having on deposit the fund or funds from which the purchase was made. Income received from the investments shall be credited to the fund from which the investments were made.
(1992 Code, § 80.014) (Ord. 1-62, passed - - 1962)