Section 206.158

Title XII PUBLIC HEALTH AND WELFARE

Chapter 206

Effective - 28 Aug 2026, see footnote   

  206.158.  Investment of funds, when. — 1.  The board of directors of any hospital district authorized under subsection 2 of this section, and established and organized under the provisions of this chapter:

  (1)  May invest up to fifty percent of its "available funds", defined in this section as funds not required for immediate disbursement in obligations or for the operation of the hospital district, into:

  (a)  Any mutual funds that invest in stocks, bonds, or real estate, or any combination thereof;

  (b)  Bonds that have:

  a.  One of the five highest long-term ratings or the highest short-term rating issued by a nationally recognized rating agency; and

  b.  A final maturity of ten years or less;

  (c)  Money market investments; or

  (d)  Any combination of investments described in paragraphs (a) to (c) of this subdivision; and

  (2)  Shall invest the remaining percentage of any available funds not invested as allowed under subdivision (1) of this subsection into any investment in which the state treasurer is allowed to invest.

  2.  The provisions of this section shall apply only if the hospital district receives less than three percent of its annual revenues from hospital district or state taxes.

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(L. 2026 H.B. 2372 merged with S.B. 1019)