KRS 82.175: Bonds constitute legal investments.

Bonds issued by a city under the provisions of KRS 82.105 to 82.180 are hereby made

securities in which all public officers and public bodies, agencies and instrumentalities of

the Commonwealth and its political subdivisions, all insurance companies, trust

companies, banking associations, investment companies, executors, administrators,

trustees and other fiduciaries, and all other persons whatsoever who are now or may

hereafter be authorized to invest in bonds or other obligations of a similar nature may

properly and legally invest funds, including capital in their control or belonging to them.

Such bonds are hereby made securities which may properly and legally be deposited with

and received by any state or municipal officer or any agency or political subd ivision of

the Commonwealth for any purpose for which the deposit of bonds or other obligations of

the Commonwealth is now or may hereafter be authorized by law.