KRS 66.543: Investments by board.

Authorized investments for the board's funds shall be general obligations of the United

States and its agencies and obligations of the Commonwealth of Kentucky and its

agencies and authorities exclusive of local units of government. Nevertheless, the board

may invest in obligations of local units of government, districts, commissions, authorities,

and municipalities within the county pursuant to specific parts of the plan when such

investments, in the judgment of the board, offer the best method of obtainin g a particular

facility or improvement.