The state treasurer is hereby authorized to establish and maintain a pooled investment program for the benefit of municipalities, districts, political subdivisions and political or public corporations of the state of Idaho. Any municipality, district, political subdivision or political or public corporation is hereby authorized to invest funds not immediately required for activities of such entity in the pooled investment program. Notwithstanding the provisions of any statute of the state of Idaho to the contrary, the state treasurer may invest the funds of a pooled investment program in any investment the state treasurer is authorized by law to acquire using the idle moneys of the state of Idaho. The costs of investing such funds pursuant to this section shall be paid from the funds invested or the earnings on such funds.
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