Section 3868. Bonds, notes or other obligations legal for investment and deposit

The bonds, notes or other  obligations  of  the  authority  are  hereby  made  securities  in which all public officers and bodies of the
  state  and  all  public  corporations,  municipalities   and   municipal
  subdivisions, all insurance companies and associations and other persons
  carrying  on an insurance business, all banks, bankers, trust companies,
  savings banks  and  savings  associations  including  savings  and  loan
  associations,  building  and loan associations, investment companies and
  other persons  carrying  on  a  banking  business,  all  administrators,
  conservators,  guardians, executors, trustees and other fiduciaries, and
  all other persons whatsoever who are now or may hereafter be  authorized
  to  invest  in  bonds,  notes  or  other  obligations  of the state, may
  properly and legally invest funds, including capital, in  their  control
  or  belonging  to  them.  The bonds, notes or other obligations are also
  hereby made securities which may be deposited with and may  be  received
  by  all  public  officers and bodies of the state and all municipalities
  and public corporations for any purpose for which the deposit of  bonds,
  notes  or  other  obligations  of  the  state is now or may hereafter be
  authorized.