33.315. Leasehold revenue bonds, federal desegregation, board of fund commissioners to determine whether redemption is financially feasible.
Leasehold revenue bonds, federal desegregation, board of fundcommissioners to determine whether redemption is financiallyfeasible.
33.315. The board of fund commissioners shall determine whether anygovernmental entity has sufficient fund balances to redeem leaseholdrevenue bonds obligated under a federal desegregation action. If the boardof fund commissioners determines that any governmental entity hassufficient fund balances to redeem or otherwise pay off such leaseholdrevenue bonds, the state board of education shall certify, undersubdivision (5) of subsection 2 of section 160.415, RSMo, that no amount isneeded by such governmental entity to repay such bonds.
(L. 2004 H.B. 795, et al. § 2)