Arizona Revised Statutes Title 35. Public Finances § 35-467.05. Investment of note proceeds; period of investment covenants

1. Bonds or other evidences of indebtedness of the United States or any of its agencies or instrumentalities if such obligations are guaranteed as to principal and interest by the United States or by the agency or instrumentality.

2. Bonds or other evidences of indebtedness of this state, counties, cities, towns or school districts.

3. Interest-bearing savings accounts or certificates of deposit of banks or savings and loan associations doing business in this state if such banks or savings and loan associations are insured by the federal deposit insurance corporation or the federal savings and loan insurance corporation. Amounts in excess of those covered by federal insurance must be secured by the depository to the same extent and in the same manner as required by the general depository law of this state.

4. The local government pooled investment fund established pursuant to § 35-326.

5. Deposits placed in accordance with the procedures prescribed in § 35-323.01.