(1) The authority's chief financial officer:

1. (a) is a public treasurer, as defined in Section 51-7-3; and
2. (b) shall invest the authority funds specified in Subsection (2) as provided in that subsection.

(2) Notwithstanding Subsection 63E-2-110(2)(a), tax increment funds, municipal services revenue, and appropriations that the authority receives from the state:

1. (a) are public funds; and
2. (b) shall be invested as provided in Title 51, Chapter 7, State Money Management Act.