The governing body of any county, city or town within this state is authorized, in its discretion, to invest in bonds of the authority any idle or surplus money held in its treasury.
Ala. Code § 4-3-20
Investment of County, Municipal, Etc., Funds in Bonds.
(Acts 1963, No. 265, p. 696, §17.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.