Section 3968. Bonds, notes or other obligations legal for investment and deposit

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.  Such  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.