KRS 96A.130: Authority's bonds are legal investments.

Bonds issued by an authority, or by public bodies for the benefit of an authority, under the

provisions of this chapter, are hereby made securities in which all public officers and

public bodies of the state and its political subdivisions, all insurance co mpanies, trust

companies, banking associations, investment companies, credit unions, savings and loan

associations, executors, administrators, trustees and other fiduciaries may properly and

legally invest funds, including capital in their control or belon ging to them. Such bonds

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

received by any state or municipal officer of any agency or political subdivision of the

state for any purpose for which the deposit of bonds or obliga tions is now or may

hereafter be authorized by law.