360.113. Districts with direct deposit agreement eligible for one-time grant for each issue for construction or to refinance lease purchase grant, amount.

MISSOURI STATUTES AND CODES

360.113. Districts with direct deposit agreement eligible for one-time grant for each issue for construction or to refinance lease purchase grant, amount.

Districts with direct deposit agreement eligible for one-time grantfor each issue for construction or to refinance lease purchase grant,amount.

360.113. 1. Any school district which has a direct deposit agreementwith the authority pursuant to sections 360.111 to 360.118 shall beeligible to receive a one-time grant for each issue based upon the paramount of general obligation bonds issued for the purpose of financingconstruction or renovation projects approved by voters after January 1,1995, or refinancing construction or renovation projects or for refinanceof lease purchase obligations with general obligation bonds.

2. Until July 1, 1997, the grant amount for a school district undersubsection 1 of this section shall be the lesser of two percent of the paramount of the bonds issued or the actual costs of issuance as determined bythe authority.