State funds shall not be expended for any of the following purposes:

1. (1) Payment of rent to any municipality or to the library board of directors.
2. (2) Investment purposes, including stocks, bonds, long term notes, real estate for income or appreciation or any expense in connection with such real estate already owned, or for any other purchases for long term income or capital appreciation.

3. (3) Any library expenditure prohibited under The Library Code (24 P.S. § § 4101—4503).

   (Editor’s Note: The Library Code (24 P.S. § § 4101—4503) was repealed by the act of November 1, 2012 (P.L. 1683, No. 210) and replaced by 24 Pa.C.S. Chapter 93 (relating to Public Library Code).)