50.040. County commission may invest school funds, when and how. — Whenever there are outstanding any legal county revenue warrants of any county bearing six percent interest which will be redeemed by the taxes of the current year, and there are school moneys in the hands of the county treasurer belonging to the various districts which will not be required for the support of the public schools before the date when such revenue warrants will be paid, the county commissions are authorized to direct the county treasurer to invest such surplus school moneys in the revenue warrants, and hold them for the use and benefit of the school districts until the money for the redemption of such warrants is received into the county revenue fund, when such moneys shall be applied to their payment.
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(RSMo 1939 § 10430)
Prior revisions: 1929 § 9313; 1919 § 11224; 1909 § 10858
CROSS REFERENCES:
School funds, 166.131
Surplus funds of district to be invested, how, 165.051
---- end of effective 28 Aug 1939 ----
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Effective dates prior to 1940 may not be the actual effective date. See FAQ 'When do laws become effective?'
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