Missouri Laws 360.118 – Authority’s power to invest, when — earnings attributable to district, ..
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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.
Terms Used In Missouri Laws 360.118
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC