Moneys in any fund or account established by the provisions of this chapter may be invested in obligations of the United States of America in the manner and subject to the limitations provided in the Revenue Bond Act of 1933, Public Act 94 of 1933, being M.C.L.A. §§ 141.101 through 141.138, as amended. In the event such 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 such purchase was made. Income received from such investments shall be credited to the fund from which such investments were made.
(Ord. 10-09-84, passed 8-20-2019)