Ohio Code § 761.12

§ 761.12.

Moneys in the funds established under sections 761.10 and 761.11 of the Revised Code , except as otherwise provided in any ordinance authorizing such revenue bonds or

in any trust agreement securing such bonds, in excess of current needs, may be invested

in notes, bonds, or other obligations of the United States.  If the law or the instrument creating a trust pursuant to section 761.09 of the Revised Code expressly permits investment in direct obligations of the United States or an agency

thereof, unless expressly prohibited by the instrument, such moneys also may be invested

in no front end load money market mutual funds consisting exclusively of obligations

of the United States or an agency thereof and in repurchase agreements, including

those issued by the fiduciary itself, secured by obligations of the United States

or an agency thereof;  and in collective investment funds established in accordance

with section 1111.14 of the Revised Code and consisting exclusively of any such securities, notwithstanding division (A)(1)(c)

of that section. Income from all such investments of money in any fund shall be credited to such funds

as the municipal corporation determines subject to the provisions of any such ordinance

or trust agreement, and such investments may be sold at such time as the municipal

corporation shall determine.