(1) Any fiduciary holding funds for loan or investment may invest them in: (a) Bonds or other interest-bearing obligations of the federal government; (b) Bonds, state warrants, and other interest-bearing obligations of this state; (c) Obligations issued separately or collectively by or for federal land banks, federal intermediate credit banks, and banks for cooperatives under the Act of Congress known as the Farm Credit Act of 1971, 85 Stat. 583, 12 U.S.C. sec. 2001 and amendments thereto; (d) Notes