Policy 703
Management of Capital Reserves
INVESTING
To provide for the efficient use of money received, the Board shall invest money not currently needed at the highest interest rates available in a manner prescribed by law.
TEMPORARY INVESTMENT OF BOND PROCEEDS
Money obtained from the sale of bonds shall be invested in checking accounts, savings accounts, time deposits or as otherwise allowed by law. The interest accruing on such investments shall be credited to the fund from which funds were invested.
Money shall be invested only in such accounts or securities as will become due and payable on or before the date when funds are needed to pay obligations against each fund. All such transactions shall be reported to the board.
Legal Reference:
Neb. Statute 79-1027
Adopted: June 12, 2006