360.118. Authority's power to invest, when--earnings attributable to district, distribution--law not applicable to finance new lease purchase agreement. - Missouri Statutes

Authority's power to invest, when--earnings attributable to district,distribution--law not applicable to finance new lease purchaseagreement.

360.118. 1. The authority may invest any funds held pursuant topowers granted under sections 360.111 to 360.118, which are not requiredfor immediate disbursement, in any investment approved by the authority;provided, however, that each school district shall receive the earnings, ora credit for such earnings, for any such amounts invested which areattributable to the district.

2. Nothing in sections 360.106 and 360.111 to 360.118 shall beconstrued to apply to obligations issued to finance new lease purchaseagreements.

(L. 1995 S.B. 301 § 360.111 subsec. 11 & § 1)

Effective 6-27-95