Effective - 28 Aug 2007
166.021. Investment of capital of public school fund — securities deposited with state treasurer. — 1. All funds accruing to the state public school fund, except the interest on the fund, shall be invested by the state board of education in registered bonds of the United States or the state, bonds of school districts of the state, or bonds or other securities payment of which is fully guaranteed by the United States.
2. Whenever the state board of education contracts with the seller of any such bonds or securities, the board shall requisition and the commissioner of administration shall approve and forthwith issue a warrant upon the state treasurer for the purchase price agreed upon, payable out of the state public school fund, in favor of the seller.
3. All bonds or securities so purchased shall be made payable to, or be registered in the name of, the state treasurer as trustee of the state public school fund and shall be deposited as part of the state public school fund with the state treasurer who shall give his receipt therefor to the board of education.
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(L. 1963 p. 200 § 7-2, A.L. 2007 H.B. 264)
(Source: RSMo 1959 § 161.201)
CROSS REFERENCE:
Multinational banks, securities and obligations of, investment in, when, 409.950
Structure Missouri Revised Statutes
Title XI - Education and Libraries
Chapter 166 - Permanent Funds and Trusts
Section 166.011 - Public school fund — source — disposition.
Section 166.031 - State treasurer to be custodian of fund — accounts — annual report.
Section 166.051 - School moneys fund — interest from investments credited to.
Section 166.061 - Gifts to public school fund.
Section 166.071 - Receipts for gifts to public school fund.
Section 166.081 - Instrument of conveyance, when recorded.
Section 166.091 - Disposition of property granted.
Section 166.111 - Liability of director of revenue.
Section 166.121 - State, the trustee.
Section 166.141 - County treasurer to collect funds — receipts — penalty for violation.
Section 166.151 - Petition to distribute county school fund.
Section 166.400 - Citation of law.
Section 166.410 - Definitions.
Section 166.421 - Income tax refund, contribution to education savings account — election, how made.
Section 166.425 - Board to invest funds, use of funds — not deemed income, when.
Section 166.430 - Cancellation of agreement, results — penalty.
Section 166.435 - State tax exemption.
Section 166.440 - Assets not state property.
Section 166.445 - Rules, invalid, when.
Section 166.450 - Review of program.
Section 166.455 - Funds not state revenues.
Section 166.456 - Confidentiality of information.
Section 166.500 - Citation of law.
Section 166.501 - Program established as alternative to Missouri education program.
Section 166.502 - Definitions.
Section 166.511 - Prompt investment of moneys paid by participation agreements, use of moneys.
Section 166.514 - Cancellation of agreements, penalty.
Section 166.517 - Assets used for program purposes only.
Section 166.520 - Rulemaking authority.
Section 166.523 - Review of program by state auditor, when.
Section 166.526 - Program moneys not part of total state revenues.
Section 166.529 - Confidentiality requirements.
Section 166.700 - Definitions.
Section 166.715 - Misuse of moneys, penalty — financial institutions immunity from liability, when.