360.118. Authority's power to invest, when — earnings attributable to district, distribution — law not applicable to finance new lease purchase agreement.
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/mo/chapter-360/360-118A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
360.118. Authority's power to invest, when — earnings attributable to district, distribution — law not applicable to finance new lease purchase agreement. — 1. The authority may invest any funds held pursuant to powers granted under sections 360.111 to 360.118 , which are not required for immediate disbursement, in any investment approved by the authority; provided, however, that each school district shall receive the earnings, or a credit for such earnings, for any such amounts invested which are attributable to the district.
2. Nothing in sections 360.106 and 360.111 to 360.118 shall be construed to apply to obligations issued to finance new lease purchase agreements.
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(L. 1995 S.B. 301 § 360.111 subsec. 11 & § 1)
Effective 6-27-95