{"data":{"id":"us-ky/krs-386.050","jurisdiction":"us-ky","citation":"KRS 386.050","heading":"Housing authority obligations -- Authorized investments -- Security for","body":"public deposits -- Negotiable -- United States bonds.\n(1) This state and all public officers, cities, political subdivisions and public bodies, all\nbanks, trust companies, savings  institutions, savings and loan associations,\ninvestment companies and other persons carrying on a banking business, all\ninsurance companies, and other persons carrying on an insurance business and all\nfiduciaries may legally invest any sinking funds, mone ys or other funds belonging\nto them or within their control in any bonds or other obligations issued by a housing\nauthority pursuant to the Municipal Housing Authority Act or the Rural Housing\nAuthority Act, and any additional amendments thereto, or issued  by any public\nhousing authority or agency in the United States, when these bonds or other\nobligations are secured by a pledge of annual contributions to be paid by the United\nStates or any agency thereof, or in any electric revenue bonds or other obligati ons\nissued by the Tennessee Valley Authority.\n(2) These bonds and other obligations shall be authorized security for all public\ndeposits and shall be fully negotiable in this state.\n(3) Nothing in this section with regard to legal investments shall relieve  any individual\nor corporation from any duty of exercising reasonable care in selecting securities.\n(4) Any county, municipality, or other taxing district may legally invest its sinking\nfunds, money, or other funds belonging to it or within its control in United States\nDefense Bonds or any other bonds or obligations for the payment of which the faith\nand credit of the United States Government is pledged.","path":["KRS Chapter 386"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35831","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:15Z","sha256":"5f66ea98758dbfdabe0fb210113bb78da464534da878d5326644e7c927752dc7","source_id":"us-ky","stale":false,"prev":"us-ky/krs-386.040","next":"us-ky/krs-386.060"},"notice":"GroundRules: Original legal text. Not legal advice."}