2011 Missouri Revised Statutes
TITLE XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 360 Missouri Health and Educational Facilities Act
Section 360.116. Payment of grants, procedure--refunding or refinancing existing bonds, net present value savings amount.


MO Rev Stat § 360.116. What's This?

Payment of grants, procedure--refunding or refinancing existing bonds, net present value savings amount.

360.116. 1. Payment of grants under sections 360.111 to 360.118 shall be made from funds appropriated for such purpose under section 164.303. Payment shall be authorized by the commissioner of education upon receipt of the closing legal opinion for the bonds by the commissioner of education and a certification by the school district that the funds will be used for costs relating to projects approved under and satisfying the qualifications and requirements of subsection 1 of section 360.113.

2. Any refunding or refinancing of existing bonds of a school district under sections 360.111 to 360.118 shall have a net present value savings of at least one and one-half percent of the par amount of the refunded bonds.

(L. 1995 S.B. 301 360.111 subsecs. 8, 9)

Effective 6-27-95

Annotation Copyright Missouri Joint Committee on Legislative Research

Disclaimer: These codes may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.