1. The State and all public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks and institutions, investment companies, insurance companies, insurance associations and other persons carrying on a banking or insurance business, and all executors, administrators, guardians, trustees, and other fiduciaries may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds or other obligations issued by a housing authority created by or pursuant to NRS 315.140 to 315.7821 , inclusive, or issued by a public housing authority or agency in the United States, when such bonds or other obligations are secured by a pledge of annual contributions to be paid by the United States Government or any agency thereof, and such bonds and other obligations are authorized security for all public deposits, and are fully negotiable in this state; it being the purpose of the Housing Authorities Law of 1947 to authorize any of the foregoing to use any funds owned or controlled by them, including (but not limited to) sinking, insurance, investment, retirement, compensation, pension, and trust funds, and funds held on deposit, for the purchase of any such bonds or other obligations; but nothing contained in NRS 315.140 to 315.7821 , inclusive, is construed as relieving any person, firm or corporation from any duty of exercising reasonable care in selecting securities. 2. The provisions of the Housing Authorities Law of 1947 apply notwithstanding any restrictions on investments contained in other laws.
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