110.270. Counties may place money not needed for current operations outright or by repurchase agreement, requirement. - Missouri Statutes

Counties may place money not needed for current operations outrightor by repurchase agreement, requirement.

110.270. Any county may place money of the county which ithas determined is not needed for current operations inobligations described in section 15, article IV, Constitution ofMissouri, outright or by repurchase agreement. Such obligationsand agreements shall be purchased through institutions in thecounty whose deposits may be insured by an agency of the UnitedStates government, hereafter referred to as federally insuredinstitutions, provided the county determines such purchases to bein the best interest of the county as determined by the countytreasurer. When such federally insured institutions areunwilling or unable to provide such obligations and agreements,the county may purchase them from federally insured institutionsin any adjacent county in Missouri. The investment authoritygranted by this section shall be in addition to the investmentauthority otherwise granted a county by law.

(L. 1994 H.B. 1312)