Sec. 4-1408 Investment of Bond Proceeds
Sec. 4-1408. Investment of Bond Proceeds

The proceeds will be invested through appropriate investment vehicles to insure the preservation of principal and to achieve a return allowable within the arbitrage limitations that exist in the federal tax laws. The timing of debt issues will be managed to use the proceeds within 24 months of issuance, and in keeping with the IRS tax exempt bond requirements.