The board supports the investment of funds in excess of current needs. In making investments, the school district shall exercise the judgment and care under the circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs.
Prior to making an investment, the board secretary shall determine the length of time, the rate of interest and the location for investing the funds.
Legal Reference: Iowa Code §§279.29, 283A, 285, 442, 452.10, 453, 633.12 (1991)
281 Iowa Admin. Code 58, 43, 44
Cross Reference: 804 Revenues
Approved: 4-23-92
Reviewed: 1-08-24
Revised:
