The governing body of any county, city or town within this state is authorized in its discretion to invest in bonds of the authority any idle or surplus money held in its treasury. (Acts 1984, No. 84-179, p. 256, §17.)
Investment of County and Municipal Funds in Bonds of Authority
Ala. Code § 37-13-17, under Incorporation of Railroad Authorities as Public Corporations.
Ala. Code § 37-13-17