227.180. State highways and transportation commission to become trustee, when. - Missouri Statutes

State highways and transportation commission to become trustee,when.

227.180. The state highways and transportation commission ofMissouri is authorized to accept and receive as trustee moneys,credits, property or securities from any county, civilsubdivision or interested parties who may contract to contributetoward the cost of construction of any road or bridge which isnow being constructed or may be hereafter constructed by saidstate highways and transportation commission as a part of thestate highway system as security for the performance of saidcontract of said county, civil subdivision or interested partiesas provided by law and said commission is authorized and directedto deposit said moneys, properties and securities in variousbanks or trust companies throughout the state.

(RSMo 1939 § 8784)

Prior revision: 1929 § 8136