Sec. 5.6. Except for investments allowed under section 2(f) or 2(g) of this chapter, investments made under this chapter must have a stated final maturity of not more than:
(1) five (5) years after the date of purchase or entry into a repurchase agreement for a conservancy district located in a city having a population of more than five thousand (5,000) and less than five thousand one hundred thirty (5,130);
(2) five (5) years after the date of purchase or entry into a repurchase agreement for investments made from a host community agreement future fund established by ordinance of a town with a population of more than ten thousand (10,000) and less than twenty thousand (20,000) located in a county having a population of more than one hundred seventy-four thousand (174,000) and less than one hundred eighty thousand (180,000); or
(3) two (2) years after the date of purchase or entry into a repurchase agreement for:
(A) a fund not described in subdivision (1) or (2); or
(B) a political subdivision that:
(i) is not described in subdivision (1) or (2); and
(ii) does not have in effect an investment policy and ordinance under section 5.7 of this chapter.