The board may invest the moneys accruing to the fund, in interest -bearing bonds of any county, urban-county government or city in this Commonwealth, or in any securities in which trustees are permitted to invest trust funds under the laws of this Commonwea lth, or in international or other securities as permitted under federal law. Such bonds shall be registered in the name of the board to the extent possible. The securities acquired by the board shall be deposited with the commissioner of finance and shall be subject to the order of the board. The board may at the cost of the pension fund employ or engage consultants to provide investment advice to aid the board in its determinations.
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