§ 27. The State and all counties, cities, villages, incorporated towns and other municipal
corporations, political subdivisions and public bodies, and public officers of any
thereof, all banks, bankers, trust companies, savings banks and institutions, building
and loan associations, savings and loan associations, investment companies and other
persons carrying on an insurance business, and all executors, administrators, guardians,
trustees and other fiduciaries, may invest lawfully any sinking funds, moneys or other
funds belonging to them or within their control in any bonds or certificates issued
pursuant to this Act. The purpose of this Section is to authorize investment in such bonds or certificates,
by all sinking, insurance, retirement, compensation, pension and trust funds, whether
owned or controlled by private persons or public officers. Nothing contained in this Section relieves any person or officer from any duty to
exercise reasonable care in selecting securities for purchase or investment.
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