Moneys in any fund or account established by the provisions of Chapters 51 through 53 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 to 141.138, as amended. If the investments are made, the securities representing the investments shall be kept on deposit with the bank or trust company having on deposit the fund from which the purchase was made. Income received from the investments shall be credited to the fund from which the investments were made.
(1995 Code, § 58-221) (Ord. 57, passed 8-18-1977)