Section 164.303

Title XI EDUCATION AND LIBRARIES

Chapter 164

Effective - 01 Jul 2006, see footnote   

  164.303.  School district bond fund established, purpose to fund health and educational facilities authority, costs and grants — lapse into general revenue fund, prohibited. — There is hereby established in the state treasury the "School District Bond Fund".  Such amounts as may be necessary to fund the annual requests submitted by the health and educational facilities authority to fund the payment of costs and grants as provided in subsection 7 of section 360.106 and sections 360.111 to 360.118 and necessary costs for administration of those provisions, but not to exceed seven million dollars per year, shall be transferred by appropriation to the fund from the gaming proceeds for education fund before any amounts in the gaming proceeds for education fund are transferred to the classroom trust fund, as provided in section 160.534.  Moneys deposited in the school district bond fund shall be used by the health and educational facilities authority, subject to appropriation, to fund the payment of costs and grants as provided in subsection 7 of section 360.106 and sections 360.111 to 360.118 and necessary costs for administration of those provisions.  Notwithstanding the provisions of section 33.080 to the contrary, moneys in the fund shall not be transferred to the credit of the general revenue fund at the end of each biennium.

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(L. 1995 S.B. 301, A.L. 2005 S.B. 287)

Effective 7-01-06