The board of trustees established under KRS 95.520 may draw the pension fund from the treasury and shall invest it, in whole or in part, in the name of the board or nominee name as provided by KRS 286.3 -225, as the board deems most advantageous for the obj ects of the fund, in interest -bearing bonds of any county, or any city in this state, or in any securities in which trustees are permitted to invest trust funds under the laws of this state, including a local government pension investment fund created purs uant to KRS 95.895. The securities shall be subject to the order of the board.
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