Monies in any fund or account established by the provisions of this subchapter 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 MCL 141.101 et seq., 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.
(Prior Code, § 50.35) (Ord. 22, passed 10-19-1993)