37.410. Fund created, purpose, payments authorized, when. - Missouri Statutes

Fund created, purpose, payments authorized, when.

37.410. 1. There is hereby created a "State Property PreservationFund" which shall consist of moneys appropriated to the fund by the generalassembly for the purpose of repairing or replacing state-owned or leasedproperty damaged from natural or man-made events.

2. Moneys appropriated for the purposes of this section and section37.413 shall be available for the payment of any property loss for coveredstate-owned or leased buildings provided:

(1) A notice of coverage is issued by the commissioner ofadministration for such property; and

(2) The state is obligated to provide evidence of insurance for suchproperty pursuant to a properly executed agreement, contract, or covenant.

3. The aggregate of payments from the state property preservationfund or other funds appropriated for this purpose shall not exceed theamounts necessary to repair or restore the covered property to itscondition prior to the covered loss or for the defeasance of outstandingdebt secured by the property. No payment shall be made from the stateproperty preservation fund or other funds appropriated for this purposeunless and until the benefits provided to pay the claim by any other policyof property insurance have been exhausted.

4. The provisions of section 33.080, RSMo, notwithstanding, anymoneys remaining to the credit of the state property preservation fund atthe end of an appropriation period shall not be transferred to generalrevenue.

(L. 2003 S.B. 243)

Effective 6-09-03