Bonds issued in compliance with this article shall be legal investments for all trust funds, funds of insurance companies, banks, banking institutions and trust companies, and for state and school funds. When any money or fund may by law be invested in bonds of cities, counties, school districts or municipalities of the state, the money or funds may be invested in bonds of power districts.
A.R.S. § 48-1619
District bonds as legal investment for certain funds
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.