2005 Missouri Revised Statutes - § 160.312. — Misuse of funds by district, consequences--department audit of expenditures or repayments.

160.312. 1. A loan made pursuant to sections 160.300 to 160.328 shall be used only for the purposes specified in an approved application. In the event the department determines that a loan has been expended for purposes other than those specified in an approved application, it shall immediately request the return of the full amount of the loan. If a school district fails to remit repayment to the department within sixty days of notification, collection shall be made through the provisions outlined in subsection 4 of section 160.306.

2. The department may, at its discretion, audit the expenditure of any loan made pursuant to sections 160.300 to 160.328 or the computation of any payment made pursuant to section 160.306.

(L. 1986 H.B. 1335 § 7)

*Expiration date, see section 160.328