PUBLIC Law Chapter 599

	8.__Bonds as legal investments.__Public officers, municipal
corporations, political subdivisions and public bodies; banks,
trust companies, bankers, savings banks and institutions, building
and loan associations, savings and loan associations, investment
companies and other persons carrying on a banking business;
insurance companies, insurance associations and other persons
carrying on an insurance business; and executors, administrators,
curators, trustees and other fiduciaries may legally invest sinking
funds, money or other funds belonging to them or within their
control in bonds or other obligations issued by the authority under
this article.__These bonds or other obligations are authorized
security for all public deposits.__It is the purpose of this
section to authorize persons, political subdivisions and officers,
public or private, to use funds owned or controlled by them for the
purchase of these bonds or other obligations. This section does not
relieve a person of any duty or of exercising reasonable care in
selecting securities.

9.__Investment of funds; redemption of bonds.__The authority
may:

A.__Invest, in property or securities in which savings banks
may legally invest funds subject to their control, funds
held in reserves, sinking funds or funds not required for
immediate disbursement; and

B.__Cancel its bonds by redeeming them at the redemption
price established in the bonds or by purchasing them at less
than redemption price.

§13083-O.__Interest of public officials, trustees or employees

1.__Acquisition of interest.__A public official, trustee or
employee of the authority may not acquire or hold a direct or an
indirect financial or personal interest in:

A.__An authority activity;

B.__Property included or planned to be included in the base
area; or

C.__ A contract or proposed contract in connection with an
authority activity.

When an acquisition is involuntary, the interest acquired must be
disclosed immediately in writing to the board of trustees of the
authority, and the disclosure must be entered in the board's
minutes.

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