100.830. Special fund, purposes--certification by employer. - Missouri Statutes

Special fund, purposes--certification by employer.

100.830. 1. The board shall establish a special fund for and in thename of each project. All received by the board in respect of the projectand required by the agreement to be used to pay program costs for theproject shall be deposited in the special fund. Amounts held in thespecial fund may be used and disbursed by the board only to pay programcosts for the project.

2. Any disbursement in respect of a project pursuant to theprovisions of sections 100.700 to 100.850, and the special fund into whichit is paid, may be irrevocably pledged by the board for the payment of theprincipal of, premium, if any, and interest on the certificate issued bythe board to finance or refinance, in whole or in part, the project.

3. The employer shall certify to the department of revenue that theassessment is in accordance with an agreement and shall provide otherinformation the department may require.

4. If an agreement provides that all or part of program costs are tobe met by receipt of assessments, the provisions of this section shall alsoapply to any successor to the original employer until such time as theprincipal and interest on the certificates have been paid.

(L. 1996 H.B. 1237 § 20)