(A) Whenever there is money in the treasury of the municipality which will not be required to be used by the municipality for a period of six months or more, such money, in lieu of being deposited in a bank or banks, may be invested in obligations of the municipality, or in such other bonds or obligations as are or may be specified in R.C. § 731.56, as amended.
(B) Such investments shall be made in the manner and pursuant to the terms and provisions set forth in R.C. §§~ 731.56 to 731.59, inclusive.
(`76 Code, § 135.01)