Effective - 28 Aug 2018, 2 histories
165.231. Opening of bids — interest on deposits. — The school board or their designee in seven-director districts, on the date selected for the acceptance of bids, shall publicly open the bids and cause each bid to be verbally read and documented. Following discussion and clarification of bids with the financial institutions, the board of education shall cause each bid to be entered upon the records of the board and shall select from among the bidders, as depositaries of the funds and moneys of the school district, those whose bids are accepted, and shall notify each of the bidders so selected. The board may reject any and all bids. The interest upon the funds and moneys shall be computed upon the daily balances to the credit of the school district with each depositary and shall be payable by each depositary on the first day of each month to the treasurer of the school district, who shall place the same to the credit of the district. Each depositary, by at least the fifth day of the current month, shall render to the secretary of the board a statement, in writing, showing the amount of interest paid by the depositary.
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(L. 1963 p. 200 § 6-23, A.L. 1980 S.B. 733, A.L. 1998 H.B. 955, A.L. 2018 H.B. 1879 merged with S.B. 769)
(Source: RSMo 1959 § 165.423)
Structure Missouri Revised Statutes
Title XI - Education and Libraries
Chapter 165 - Budget and Current Financing
Section 165.031 - Lost or destroyed check, duplicate to issue, when.
Section 165.051 - Investment of surplus funds.
Section 165.061 - Treasurer, duties of.
Section 165.091 - School money, how disbursed.
Section 165.101 - Settlements of treasurer of seven-director districts, when due.
Section 165.131 - Tax and revenue anticipation notes — form.
Section 165.161 - Disbursements in metropolitan districts, how made.
Section 165.171 - Audits, how provided — removal of appointed auditor.
Section 165.211 - Depositaries, how selected, when — bids received when — notice to be published.
Section 165.231 - Opening of bids — interest on deposits.
Section 165.241 - Deposits, how secured — renewal of deposit agreement.
Section 165.251 - Additional security may be required.
Section 165.261 - Failure to select depositary.
Section 165.281 - Penalty for failure to pay valid check of seven-director district.
Section 165.291 - Liability of district treasurer.
Section 165.301 - Selection of depositaries in metropolitan districts.