Missouri Revised Statutes
Chapter 108
Bond Issues, Miscellaneous Provisions
←108.175
Section 108.180.1
108.190→
August 28, 2015
Bond issue--funds kept separate.
108.180. When any bonds shall have been issued by any county, city,
incorporated town or village, school district, or other political corporation
or subdivision of the state, as provided under the constitution and laws of
this state for the incurring of indebtedness, or for refunding, extending,
unifying the whole or any part of their valid bonded indebtedness, the
proceeds from the sale thereof and all moneys derived by tax levy, or
otherwise, for interest and sinking fund provided for the payment of such
bonds, shall be kept separate and apart from all other funds of such
governmental unit, so that there shall be no commingling of such funds with
any other funds of such county, city, incorporated town or village, school
district, or other political corporation or subdivision of the state;
provided, that in no case shall the proceeds derived from the sale of any such
bonds be used for any purpose other than that for which such bonds were
issued, nor shall such interest and sinking fund be used for any purpose
other than to meet the interest and principal of such bonds; provided
further, that any bonds or money remaining in the interest and sinking fund
of any such county, city, incorporated town or village, school district, or
other political corporation or subdivision of the state, after the extinction
of the indebtedness for which such bonds were issued, shall be paid into the
general revenue fund of such county, city, incorporated town or village, or
other political corporation or subdivision, and into the capital projects
fund of such school district.
(RSMo 1939 § 3283, A.L. 1945 p. 1389 § 1, A.L. 1993 S.B. 380, A.L.
1994 S.B. 676)
Prior revision: 1929 § 2896
Effective 7-12-94
CROSS REFERENCE:
Application of funds derived from public debt, Const. Art. VI
§ 29
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