Section 11-57-18

Investment in bonds - By municipalities.

The governing body is authorized in its discretion to invest in bonds of the authority any idle or surplus money held in the treasury of the municipality which is not otherwise earmarked or pledged.

(Acts 1961, No. 895, p. 1407, §22; Acts 1961, Ex. Sess., No. 289, p. 2335, §22.)