Section 11-65-503 - Purchase of lake authority bonds(1) Any person, firm, corporation, association, political subdivision of the state, or other entity or public or private officer may purchase bonds issued by the lake authority under this part with funds owned or controlled by the purchaser.(2) Nothing in this section may be construed to relieve a purchaser of lake authority bonds of any duty to exercise reasonable care in selecting securities.Added by Chapter 59, 2022 General Session ,§ 23, eff. 5/4/2022.