108.200. Surplus funds for purchase of bonds. - Missouri Statutes

Surplus funds for purchase of bonds.

108.200. Whenever there may be in the interest and sinkingfund of any county, city, incorporated town or village, schooldistrict, or other political corporation or subdivision of thestate, a sufficient amount of money belonging to any interest andsinking fund, which cannot be properly applied to the payment ofexisting bonds for the payment and redemption of which said fundhas been levied and collected, to purchase one or more generalobligation bonds, notes, or certificates of the state of Missourior of the United States, or of any county, city, or schooldistrict in this state, the county commission of such county orthe governing authority of such city, incorporated town orvillage, school district, or other political corporation orsubdivision of the state may order their treasurer to purchasesuch bond, note, or certificate of the state of Missouri, or ofthe United States, or of any county, city or school district inthis state, limiting him as to kind, terms and conditions of suchpurchase; provided, that no such bond or securities shall beordered to be purchased, and maturity date of which shall extendbeyond the maturity date of the bonds for which such sinking fundis provided and intended to pay; provided further, that otherbonds, notes, certificates and securities than those hereinmentioned may be purchased when so expressly authorized by law.

(L. 1945 p. 1389 § 3)