Arizona Laws 35-324. Investment of trust funds
Current as of: 2024 | Check for updates
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The treasurer shall invest and reinvest monies of trust funds in:
Terms Used In Arizona Laws 35-324
- Public monies: includes subdivision monies. See Arizona Laws 35-321
- Treasurer: includes the treasurer or officer exercising the functions of treasurer of any subdivision but excludes the state treasurer. See Arizona Laws 35-321
- Trust funds: means those monies entrusted to a public body or official for preservation and investment, as prescribed by the instrument establishing such funds. See Arizona Laws 35-321
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
1. Any securities allowed for the investment of public monies.
2. Fixed income securities of corporations organized and doing business in any state of the United States or the District of Columbia that carry one of the two highest ratings of Moody’s investors service and Standard and Poor’s rating service or their successors. If only one of these services rates the security, it must carry the highest rating of that service. If a rating change occurs after purchase, it is not mandatory to sell the security.