Missouri Laws 68.080 – Waterways and ports trust fund, use of moneys — project criteria — ..
1. There is hereby established in the state treasury the “Waterways and Ports Trust Fund”. The fund shall consist of revenues appropriated to it by the general assembly.
2. The fund may also receive any gifts, contributions, grants, or bequests received from federal, private, or other sources.
Terms Used In Missouri Laws 68.080
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
3. The fund shall be a revolving trust fund exempt from the provisions of section 33.080 relating to the transfer of unexpended balances by the state treasurer to the general revenue fund of the state. All interest earned upon the balance in the fund shall be deposited to the credit of the fund.
4. Moneys in the fund shall be withdrawn only upon appropriation by the general assembly, to be administered by the state highways and transportation commission and the department of transportation, in consultation with Missouri public ports, for the purposes in subsection 2 of section 68.035 and for no other purpose. To be eligible to receive an appropriation from the fund, a project shall be:
(1) A capital improvement project implementing physical improvements designed to improve commerce or terminal and transportation facilities on or adjacent to the navigable rivers of this state;
(2) Located on land owned or held in long-term lease by a Missouri port authority, or within a navigable river adjacent to such land, and within the boundaries of a port authority;
(3) Funded by alternate sources so that moneys from the fund comprise no more than eighty percent of the cost of the project;
(4) Selected and approved by the highways and transportation commission, in consultation with Missouri public ports, to support a statewide plan for waterborne commerce, in accordance with subdivision (1) of section 68.065; and
(5) Capable of completion within two years of approval by the highways and transportation commission.
5. Appropriations made from the fund established in this section may be used as a local share in applying for other grant programs.
*6. The provisions of this section shall terminate on August 28, 2033, pending the discharge of all warrants. On December 31, 2033, the fund shall be dissolved and the unencumbered balance shall be transferred to the general revenue fund.