mandatory on the part of the municipality to do so.

Investment of surplus moneys,-

1. (1) Surplus moneys standing at the credit of the Municipal Fund, which cannot immediately or at an early date be applied for the purposes specified in section 87, shall be invested in the prescribed manner: Provided that adequate safeguards, as may be prescribed, shall be followed against the unproductive and speculative investments. (2) The loss, if any, arising from such investments, shall be debited to the Municipal Fund. 286