reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.051 - Investment of surplus funds.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1999
165.051. Investment of surplus funds. —
If any school district has money in the teachers', incidental, capital projects or debt service fund not needed within a reasonable period of time for the purpose for which the money was received, the school board in the district, if it deems it advisable, may invest the funds in either open time deposits or certificates of deposit secured under the provisions of sections 110.010 and 110.020; or in bonds, redeemable at maturity at par, of the state of Missouri, of the United States, or of any wholly owned corporation of the United States; or in other short term obligations of the United States, or in any instrument permitted by law for the investment of state moneys. No open time deposits shall be made or bonds purchased to mature beyond the date that the funds are needed for the purpose for which they were received by the school district. Interest accruing from the investment of the surplus funds in such deposits or bonds shall be credited to the fund from which the money was invested.
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(L. 1963 p. 200 § 6-5, A.L. 1977 H.B. 130, A.L. 1992 S.B. 581, A.L. 1993 S.B. 380, A.L. 1996 S.B. 795, et al., A.L. 1999 S.B. 386)
(Source: RSMo 1959 §§ 165.110, 165.243, 165.247)
CROSS REFERENCES:
Bi-state development agency, bonds of, investment in authorized, 70.377
Multinational banks, securities and obligations of, investment in, when, 409.950
Savings accounts in insured savings and loan associations, investment in authorized, 369.194
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.061 - Treasurer, duties of.

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 28 Aug 1977
165.061. Treasurer, duties of. —
From and after the approval of his bond as such, the treasurer of each seven-director school district shall receive all moneys belonging to the district, from whatever source derived, and deposit and pay out the same upon checks or orders for payment as provided in section 165.021. He shall also be custodian of all bonds and other securities belonging to the school district.
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(L. 1963 p. 200 § 6-6, A.L. 1977 S.B. 111 & H.B. 130)
(Source: RSMo 1959 § 165.400)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.071 - County collector-treasurer to pay over school district moneys monthly (seven-director districts).

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 28 Aug 2010, 2 histories
165.071. County collector-treasurer to pay over school district moneys monthly (seven-director districts). —
1. At least once in every month the county collector in all counties of the first and second classifications and the collector-treasurer in counties having township organization shall pay over to the treasurer of the school board of all seven-director districts all moneys received and collected by the county collector and the collector-treasurer to which the board is entitled and take duplicate receipts from the treasurer, one of which the county collector and the collector-treasurer shall file with the secretary of the school board and the other the collector-treasurer shall file in his or her settlement with the county commission.
2. The county collector in counties of the third and fourth classification, except in counties under township organization, shall pay over to the county treasurer at least once in every month all moneys received and collected by the county collector which are due each school district and shall take duplicate receipts therefor, one of which the county collector shall file in his or her settlement with the county commission. The county treasurer in such counties shall pay over to the treasurer of the school board of seven-director districts, at least once in every month, all moneys so received by the county treasurer to which the board is entitled. Upon payment the county treasurer shall take duplicate receipts from the treasurer of the school board, one of which the county treasurer shall file with the secretary of the school board, and the other the county treasurer shall file in his or her settlement with the county commission.
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(L. 1963 p. 200 § 6-7, A.L. 2005 H.B. 58 merged with S.B. 210, A.L. 2010 H.B. 1316)
(Source: RSMo 1959 §§ 165.347, 165.348)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.081 - County treasurer to pay over state and county school moneys to district treasurer monthly (seven-director districts).

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 28 Aug 1963
165.081. County treasurer to pay over state and county school moneys to district treasurer monthly (seven-director districts). —
The county treasurer shall pay over to the treasurer of each seven-director school district any state or county school moneys received by him to which the district is entitled, at least once in every month and take duplicate receipts from the treasurer one of which he shall file with the secretary of the board, and the other he shall file in his settlement with the county commission.
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(L. 1963 p. 200 § 6-8)
(Source: RSMo 1959 §§ 165.343, 165.460)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.091 - School money, how disbursed.

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 27 Jun 1995, see footnote
165.091. School money, how disbursed. —
No money belonging to the school district shall be paid by any depositary or from any investment account maintained pursuant to section 165.051 except upon the check of the treasurer and president of the board of the school district or order for payment duly issued by the treasurer. The board, by resolution, may direct that the signatures be affixed to the checks in facsimile in the manner and with the effect provided in sections 105.273 to 105.278.
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(L. 1963 p. 200 § 6-9, A.L. 1977 S.B. 111, A.L. 1995 S.B. 301)
(Source: RSMo 1959 §§ 165.349, 165.443)
Effective 6-27-95
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.101 - Settlements of treasurer of seven-director districts, when due.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1977
165.101. Settlements of treasurer of seven-director districts, when due. —
The treasurer of each seven-director school district annually, not later than the first day of August, shall settle with the school board and account to the board for all school moneys received in each fund of the district, and the amount paid out for school purposes in the seven-director school district. The settlement, if found correct by the board, shall be approved by the board; and when approved the treasurer shall present his settlement to the clerk of the county commission. The clerk shall make a careful examination of the settlement, and if found correct he shall certify the same. The certificate shall be prima facie a discharge of the liability of the treasurer for the funds expressed in the vouchers. At the expiration of his term of office the treasurer shall deliver over to his successor in office all books and papers, with all moneys or other property in his hands, and also all orders, checks, bonds and coupons he has paid or redeemed since his last annual settlement with the board and with the county clerk, and shall take the duplicate receipts of his successor therefor, one of which he shall deposit with the secretary of the board and the other with the county clerk.
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(L. 1963 p. 200 § 6-10, A.L. 1977 S.B. 111 & H.B. 130)
(Source: RSMo 1959 §§ 165.350, 165.453)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.111 - Financial report published annually, when — state aid not to be paid until report received, penalty — audit summary published, when.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1996
165.111. Financial report published annually, when — state aid not to be paid until report received, penalty — audit summary published, when. —
1. The school board of each district, for any year for which it does not cause an audit to be performed by October thirty-first after the close of the school year, shall make and publish, not later than September first, in some newspaper as described in section 493.050 published in the school district, and if there is none then in some newspaper of general circulation within the district, a statement of all receipts of school moneys, when and from what source derived, and all expenditures, and on what account; also, the present indebtedness of the district and its nature, and the rate of taxation for all purposes for the year. The statement shall be duly attested by the president and secretary of the board, and the secretary shall forward a copy to the state board of education on forms prescribed by the board.
2. The state board of education shall not release the state aid apportioned to the district for the next ensuing school year until a copy of the required statement has been received at its office in Jefferson City and has been approved by it. Any school board which fails, refuses or neglects to order the statement to be made, and any officer of the board who fails, refuses, or neglects to prepare, publish and forward the statement, as required by this section, when ordered by the board, is guilty of a misdemeanor and punishable by a fine not to exceed one hundred dollars. Annual or biennial audit summaries shall be published according to section 165.121.
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(L. 1963 p. 200 § 6-11, A.L. 1988 S.B. 789, A.L. 1996 S.B. 926)
(Source: RSMo 1959 § 165.360)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.122 - Audits of enrollment and attendance records of school districts, performed by independent auditor, costs.

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 28 Aug 1998
165.122. Audits of enrollment and attendance records of school districts, performed by independent auditor, costs. —
1. The commissioner of education may cause an audit examination to be performed, pursuant to this section, of the enrollment and average daily attendance records of any school district. Such examination shall be made in accordance with generally accepted auditing standards applicable in the circumstances, including such reviews and tests of the system of internal check and control and of the books, records and other underlying data as are necessary to enable the independent accountant performing the audit to come to an informed opinion as to the enrollment and attendance and reporting of the district. A physical count of students shall be a part of the audit. Such physical count shall occur on a date randomly selected without notice to the district. An independent auditor who is not regularly engaged as an employee of the school board shall perform the audit and make a written report of his findings to the commissioner of education and the district school board.
2. The actual and necessary costs of the audit shall be paid by the department.
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(L. 1998 S.B. 781)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.131 - Tax and revenue anticipation notes — form.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1994
*165.131. Tax and revenue anticipation notes — form. —
The board of education of any school district in this state, upon a vote of a majority of the members of the board, may borrow funds for the use of the various funds of the district, including the debt service fund, and may issue negotiable notes in evidence thereof, payable out of the revenues derived from school taxes or other school revenues, for the purposes of the funds of any year in which the notes are issued. The notes may be issued at any time and from time to time in any year. A separate note shall be issued to evidence the borrowing for the benefit of each fund, and shall bear on its face appropriate reference to or designation of the fund for the use of which the funds evidenced by the note are borrowed. Beginning with the fiscal year commencing on July 1, 1994, the aggregate outstanding principal amount of the notes issued in any year for the use or benefit of any fund shall not exceed the amount of the school board's estimate of the requirements for the fund for such year. The notes shall be payable in not to exceed twelve months from date of issuance, and shall not exceed the terms as set forth in section 108.170. The proceeds of the notes shall be placed to the credit of the respective funds for the use and benefit of which the borrowing was made, as evidenced by the notes, and subject to the right to make transfers from and to funds as otherwise permitted by law, the proceeds of the notes shall be used and expended only in payment of the expenses and obligations properly payable from the funds, respectively, and incurred or to be incurred against the funds during the year for the expenses of the year, or in payment of principal and interest on the notes. The notes may be payable to bearer or to the order of a named payee, and may be in substantially the following form:
TAX AND REVENUE ANTICIPATION NOTE FOR ______ FUND ______ School District of ______ County, State of Missouri No. ______ Date of issue ______ $______
The ______ School District of ______ County, Missouri, will pay on ______ at the office of the Treasurer of said School District, or at the ______ Bank in ______, to (bearer; or ______ or order), the sum of ______ with interest thereon from date of issue at the rate of ______% per annum, payable at maturity, out of funds derived from taxes and other school revenues for school purposes for the ______ fund, for the school year beginning July 1, 20______, upon due and proper endorsement and presentment hereof.
THE ______ SCHOOL DISTRICT
BY ______
President
ATTEST:
______
Clerk or Secretary
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(L. 1963 p. 200 § 6-13, A.L. 1973 H.B. 158, A.L. 1977 H.B. 130, A.L. 1984 H.B. 856 & 1358, A.L. 1994 H.B. 1218)
(Source: RSMo 1959 § 165.070)
*Number "161.131" appears in original rolls.
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.141 - Execution and certification of notes — registration by county treasurer — record of issuance and payment — cancellation.

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 28 Aug 1963
165.141. Execution and certification of notes — registration by county treasurer — record of issuance and payment — cancellation. —
1. The notes shall be known as tax anticipation notes of the school district and shall be signed by the president of the school board and attested by the clerk or secretary. The clerk or secretary of the school board shall certify on the back of each note that the note is issued pursuant to an order of the school board of the district and the aggregate principal amount of all prior notes and warrants issued against the fund referred to in the note which are unpaid at the date of the certificate. All notes issued under this section and section 165.131 shall be registered, without fee, before delivery in the office of the county treasurer of the county in which the school district lies. The registry shall show the number, date, amount and interest rate of each note, the fund for which issued, date of sale and name of the payee, if any, or of the purchaser if payable to bearer. Upon payment and cancellation the notes shall be submitted to the county treasurer who shall record the date of payment and cancellation in his record of registry.
2. The secretary of the school district shall keep true and correct record of the issuance, and of the fact and date of payment of all notes, and deliver a duplicate thereof to the treasurer of the school district. The notes upon payment shall be cancelled and it shall not be lawful for the school district to purchase and reissue any of the notes.
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(L. 1963 p. 200 § 6-14)
(Source: RSMo 1959 § 165.073)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.161 - Disbursements in metropolitan districts, how made.

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 28 Aug 1977
165.161. Disbursements in metropolitan districts, how made. —
All disbursements of the board of education in metropolitan districts shall be made by checks drawn or orders for payment issued upon a designated depositary in the form and subject to the regulations that the board provides.
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(L. 1963 p. 200 § 6-16, A.L. 1967 p. 238, A.L. 1977 S.B. 111 & H.B. 130)
(Source: RSMo 1959 § 165.623)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.171 - Audits, how provided — removal of appointed auditor.

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 28 Aug 1967
165.171. Audits, how provided — removal of appointed auditor. —
The board of education in metropolitan districts shall determine and provide for the auditing of the accounts of the board and its various departments and operations, at the times and in the manner that the board deems necessary. The board in such districts may employ independent auditors to make the audit, or may appoint an auditor for this purpose and provide for the employees that the auditor's duties require. The board may remove the auditor from office by vote of a majority of its members. Complete reports as to the audits shall be furnished to the members of the board and the superintendent of schools and shall be made available for inspection by any interested party.
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(L. 1963 p. 200 § 6-17, A.L. 1967 p. 238)
(Source: RSMo 1959 § 165.627)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.181 - Examination of officers' accounts and vouchers in metropolitan districts — report to mayor.

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 28 Aug 1967
165.181. Examination of officers' accounts and vouchers in metropolitan districts — report to mayor. —
At the close of each fiscal school year, the mayor of the city shall appoint one or more expert accountants, who shall examine the books, accounts and vouchers of the treasurer and all other departments of expenditure of the board of the metropolitan district and shall make due report thereof to the mayor and the board of education of the city. All the officers and employees of the board shall produce and submit to the accountants for examination all books, papers, documents, vouchers and accounts in their office belonging or pertaining to the office, and shall in every way assist the accountants in their work. In the report to be made by the accountants they may make any recommendation they deem proper as to the business methods of the officers and employees. A reasonable compensation for the services shall be paid by the board.
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(L. 1963 p. 200 § 6-18, A.L. 1967 p. 238)
(Source: RSMo 1959 § 165.633)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.201 - Selection of depositaries in seven-director districts without advertising for bids — deposit to be secured.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1963
165.201. Selection of depositaries in seven-director districts without advertising for bids — deposit to be secured. —
If at the time bids should be received or the selection of depositaries should be made in seven-director districts in accordance with the provisions of sections 165.211 to 165.291, it is unlawful for banking institutions to pay interest upon demand deposits, or if there is not a sufficient number of bids submitted, the board may name depositaries of all or any part, not less than one-sixteenth part thereof, of its funds, without advertising for bids and without requiring the payment of any interest. Each depositary selected within ten days after its selection in accordance with the provisions of this section shall deposit securities required for the deposit of school funds as provided in sections 110.010 and 110.020.
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(L. 1963 p. 200 § 6-20)
(Source: RSMo 1959 § 165.427)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.211 - Depositaries, how selected, when — bids received when — notice to be published.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1998
165.211. Depositaries, how selected, when — bids received when — notice to be published. —
In all seven-director districts, the school board shall select depositaries of the moneys and funds of the school district. Depositaries may be selected annually or the school district and depositary may enter into a one- to five-year contract or agreement for the deposit of the district's moneys or funds at the discretion of the local board of education. Such contract or agreement may be terminated by the mutual consent of both parties at any time. The school board, in each year in which depositaries are to be selected, shall receive sealed proposals from banking institutions in the county or in adjoining counties which desire to be selected as depositaries of the moneys and funds of the school district. Notice that bids will be received shall be published by the secretary of the board at least twenty days before the date selected by the school board for the acceptance of bids in some newspaper published in the county at least five days in each week, or if there is none, then in a newspaper of general circulation within the county.
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(L. 1963 p. 200 § 6-21, A.L. 1980 S.B. 733, A.L. 1992 S.B. 581, A.L. 1998 H.B. 955)
(Source: RSMo 1959 § 165.417)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.221 - Bids, how made — to be accompanied by check — penalty for secretary disclosing amount of bid.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 2018, 2 histories
165.221. Bids, how made — to be accompanied by check — penalty for secretary disclosing amount of bid. —
For the purpose of letting the funds the board shall divide the funds into not less than two nor more than ten equal parts. Each bidder may bid for any number of the parts, but the bid for each part shall be separate. Any banking institution in the county or in an adjoining county desiring to bid shall deliver to the secretary of the board, on or before the date selected for the acceptance of bids, a sealed bid, stating the rate of interest, or method by which the interest will be determined, that the banking institution offers to pay on one part of the funds and moneys of the school district for the term of one to five years, as the case may be, next ensuing the date of the bid; or if the selection is made for a less term as provided in sections 165.201 to 165.291, then for the time between the date of the bid and the next regular time for the selection of depositaries, as fixed by section 165.211. It is a misdemeanor for the secretary of the board to directly or indirectly disclose the amount of any bid before all bids are opened at a public depositary bid opening.
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(L. 1963 p. 200 § 6-22, A.L. 1980 S.B. 733, A.L. 1992 S.B. 581, A.L. 1998 H.B. 955, A.L. 2018 H.B. 1879 merged with S.B. 769)
(Source: RSMo 1959 § 165.420)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.231 - Opening of bids — interest on deposits.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• 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)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.241 - Deposits, how secured — renewal of deposit agreement.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 2018, 2 histories
165.241. Deposits, how secured — renewal of deposit agreement. —
After notice to any depositary of its selection, the depositary shall deliver or deposit securities in accordance with sections 110.010 and 110.020 and the securities if delivered to the fiscal officer of the seven-director school district may be deposited for safekeeping with any federal reserve bank located in this state or with any banking institution located in the county and approved by order of the school board entered of record on its minutes. If at the time for selecting depositaries it is unlawful for banking institutions to pay interest upon demand deposits the school board at its option either may select depositaries as provided by law or may enter into written agreement with any or all depositaries acting as such during the preceding period for renewal and continuation of the depositary relationship for the ensuing period with power and authority to renew and continue the same for successive periods thereafter, subject however to termination as provided by law. The rights and obligations of the parties and of any trustee joining in a renewal agreement shall be deemed continuous throughout the periods of the renewals. Each depositary at all times shall maintain the security in kind and amount required by sections 110.010 and 110.020 with right in the depositary when not in default to make substitutions thereof and to withdraw interest coupons therefrom as they mature.
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(L. 1963 p. 200 § 6-24, A.L. 2018 H.B. 1879 merged with S.B. 769)
(Source: RSMo 1959 § 165.430)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.251 - Additional security may be required.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1963
165.251. Additional security may be required. —
If the board of a seven-director district at any time deems it necessary for the protection of the school district, by resolution it may require a depositary to deposit additional security, and upon failure to do so within five days after the service of a copy of the resolution upon the depositary the board may proceed to select another depositary in its place in the manner provided herein.
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(L. 1963 p. 200 § 6-25)
(Source: RSMo 1959 § 165.433)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.261 - Failure to select depositary.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1963
165.261. Failure to select depositary. —
If for any reason a selection of depositaries for all the funds and moneys of a seven-director district is not made at the time fixed by sections 165.201 to 165.291, the board, at any subsequent time, after twenty days' notice, as herein provided, may receive bids and select depositaries for the parts of the funds and moneys of the districts for which no depositary has been selected; and the banking institutions selected shall remain depositaries until the next regular time for the selection of depositaries as provided by section 165.211, unless the order selecting the depositaries is revoked for the causes specified in sections 165.201 to 165.291.
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(L. 1963 p. 200 § 6-26)
(Source: RSMo 1959 § 165.437)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.271 - Transfer of funds to depositaries — payment of bonds — effect of failure of depositary to deposit security.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 2018, 2 histories
165.271. Transfer of funds to depositaries — payment of bonds — effect of failure of depositary to deposit security. —
1. As soon as the securities satisfactory to the district are deposited, the banking institution depositing the securities shall be deemed as a depositary of the part of the funds and moneys of the school district of which it has been selected as the depositary, until the time fixed by sections 165.201 to 165.291 for another selection. The treasurer of the school district immediately upon the making of the order shall transfer to the depositary the parts of all funds and moneys belonging to the school district that the depositary is entitled to receive by virtue of its designation.
2. In case any bonds, coupons or other indebtedness of the district are payable, by the terms of the bonds, coupons or other evidences of indebtedness, at any particular place outside the district, nothing contained in sections 165.201 to 165.291 shall prevent the board from causing the treasurer to place a sufficient sum of money to meet the same at the place where the debts are payable at the time of their maturity.
3. The treasurer of a seven-director district, as the funds and moneys of the school district come into his hands from time to time, shall deposit them with the depositaries to the credit of the school district, and at all times shall keep on deposit with each depositary approximately that proportion of all the funds and moneys of the district for which the board accepted the bid of the depositary. If at any time the amount of funds and moneys on deposit with any depositary to the credit of the school district is either more or less than the proportion thereof for which the board accepted the bid of the depositary, that fact shall not impair or in any manner affect the liability of the depositary to faithfully perform all the duties and obligations devolving by law upon the depositary.
4. If any banking institution, after being selected as depositary and notified thereof, fails to deposit the security within the time provided by section 165.241, the board shall take such action as it deems appropriate to safeguard district funds, including deposit to another bank on an expedited basis, and shall proceed to receive new bids and select another depositary in lieu of the one failing to deposit the security.
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(L. 1963 p. 200 § 6-27, A.L. 2018 H.B. 1879 merged with S.B. 769)
(Source: RSMo 1959 §§ 165.440, 165.443)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.281 - Penalty for failure to pay valid check of seven-director district.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1977
165.281. Penalty for failure to pay valid check of seven-director district. —
For every failure to pay a check drawn or order for payment issued upon a depositary by the treasurer of a seven-director school district, when moneys and funds sufficient for the payment thereof are in the depositary to the credit of the appropriate funds of the school district, the depositary shall forfeit and pay to the holder of the check or the payees of the order for payment ten percent of the amount thereof, and the board may revoke the order designating it as depositary.
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(L. 1963 p. 200 § 6-28, A.L. 1977 S.B. 111 & H.B. 130)
(Source: RSMo 1959 § 165.447)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.291 - Liability of district treasurer.

Title XI EDUCATION AND LIBRARIES
Chapter 165
• Effective - 28 Aug 1963
165.291. Liability of district treasurer. —
The treasurer of each seven-director district is not responsible for the loss of any funds and moneys of the district through the negligence or default of any depositary; but nothing in sections 165.201 to 165.291 shall release the treasurer from liability for any loss resulting from any official misconduct on his part or from any responsibility for the funds and moneys of the school district until the time the depositaries are selected and the funds and moneys deposited therein, or from liability for any misappropriation by him in any manner of funds and moneys.
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(L. 1963 p. 200 § 6-29)
(Source: RSMo 1959 § 165.450)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 165 - Budget and Current Financing › Section 165.301 - Selection of depositaries in metropolitan districts.

Title XI EDUCATION AND LIBRARIES
Chapter 165
Effective - 28 Aug 2004
165.301. Selection of depositaries in metropolitan districts. —
1. Subject to the provisions of section 110.030, the board of education in each metropolitan district shall at least once every five years advertise for bids from the banking institutions in the city for the deposits of the board of education to be secured as provided in sections 110.010 and 110.020. The bids shall specify the rate of interest to be allowed to the board on the deposits and the nature of the security offered. The deposits shall be awarded to the banking institutions that offer, with the required security, the highest rate of interest therefor. The board may select as many depositaries for its deposits as it deems necessary and the board shall cause contracts to be made with the banking institutions receiving award of deposits. The board shall cause all funds received to be paid into the designated depositaries, allocating funds to the depositaries, if more than one depositary has been designated, as the board deems proper.
2. The president of the board immediately after the selection of the depositary or depositaries of the school moneys shall notify the treasurer of the state of Missouri and the collector of school taxes in the city of the name of the depositary to which they are to make all payments of money apportioned, belonging to or distributed to the board; and the officers upon making deposits shall take from the depositary duplicate receipts therefor, one of which shall be retained by the officer making the deposits and one delivered to the treasurer of the board.
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(L. 1963 p. 200 § 6-30, A.L. 1967 p. 238, A.L. 1980 S.B. 733, A.L. 2004 S.B. 968 and S.B. 969)
(Source: RSMo 1959 § 165.610)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.011 - Public school fund — source — disposition.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.011. Public school fund — source — disposition. —
A state public school fund is created which shall consist of all moneys, bonds, lands and other properties belonging to or donated to any state fund for public school purposes and the net proceeds of all sales of lands and other property and effects that accrue to the state by escheat. All such funds shall be paid into the state treasury and securely invested by the state board of education, and sacredly preserved as a public school fund, the annual income of which shall be faithfully appropriated for establishing and maintaining free public schools and for no other uses or purposes whatsoever.
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(L. 1963 p. 200 § 7-1)
(Source: RSMo 1959 § 161.180)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.021 - Investment of capital of public school fund — securities deposited with state treasurer.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• 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
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.031 - State treasurer to be custodian of fund — accounts — annual report.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.031. State treasurer to be custodian of fund — accounts — annual report. —
1. The state treasurer is the custodian of all bonds and securities in which the state public school fund is invested, and also of all moneys belonging to the state public school fund, and he and his sureties are responsible on his official bond for the performance of his duties in the safekeeping, disbursement and investment of all money or property of the fund in accordance with the provisions of sections 166.011 to 166.121.
2. The state treasurer shall keep an accurate account of all money, bonds and securities in the state public school fund, the maturities thereof, the rates of interest thereon and the dates when the interest is payable, and shall certify to the board of education quarterly-yearly the accounts and reports relating thereto that are required by the board.
3. The state treasurer and the director of revenue shall include in the annual report required by section 32.060 a full account of all receipts and expenditures on account of the state public school fund and the income therefrom and a report of all information in their possession which relates to the fund and property.
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(L. 1963 p. 200 § 7-3)
(Source: RSMo 1959 § 161.211)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.041 - State board of education to keep account with treasurer — suits to recover money due.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.041. State board of education to keep account with treasurer — suits to recover money due. —
1. The state board of education shall keep a regular account with the state treasurer and all other persons in relation to the state public school fund.
2. The state board of education shall require all persons who receive any money belonging to the fund or income to settle their accounts, and, in that name, may sue for and recover all moneys due from any person on account of the fund or income.
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(L. 1963 p. 200 § 7-4)
(Source: RSMo 1959 § 161.221)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.051 - School moneys fund — interest from investments credited to.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.051. School moneys fund — interest from investments credited to. —
All interest from the investment belonging to the state public school fund shall be paid into the state treasury and credited to the state school moneys fund, which is hereby created. All other funds for the support of free public schools shall be credited to the state school moneys fund and shall be paid out for such purposes on warrants as directed by the state board of education.
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(L. 1963 p. 200 § 7-5)
(Source: RSMo 1959 § 161.225)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.061 - Gifts to public school fund.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.061. Gifts to public school fund. —
Any person may grant, give or devise to the public school fund of the state any money, property, real or personal, choses in action of every kind and description. The property shall be turned over and delivered to the state director of revenue and the proceeds thereof shall be deposited in the state treasury to be disposed of in the manner provided in section 166.091.
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(L. 1963 p. 200 § 7-6)
(Source: RSMo 1959 § 161.230, A.L. 1961 p. 345)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.071 - Receipts for gifts to public school fund.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.071. Receipts for gifts to public school fund. —
For any money, property or choses in action delivered to the director of revenue under sections 166.061 to 166.121 he shall give duplicate receipts, one of which shall be filed in the office of the commissioner of administration, who shall charge the director of revenue therewith.
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(L. 1963 p. 200 § 7-7)
(Source: RSMo 1959 § 161.240, A.L. 1961 p. 345)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.081 - Instrument of conveyance, when recorded.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.081. Instrument of conveyance, when recorded. —
A certified copy of the instrument of writing, evidencing the grant, gift or devise, shall also be delivered to the commissioner of administration and duly recorded by him in his office in a book to be kept specially for that purpose, and the original shall be recorded in the recorder's office of the county where the grantor, donor or devisor lives or resided at the time of his death.
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(L. 1963 p. 200 § 7-8)
(Source: RSMo 1959 § 161.250, A.L. 1961 p. 345)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.091 - Disposition of property granted.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.091. Disposition of property granted. —
The director of revenue shall, as early as practicable, dispose of the property granted, given or devised, according to the terms specified in the written instrument granting or giving the same to the public school fund. If the property is money, or after the property is converted into money, it shall be deposited in the state treasury and securely invested and sacredly preserved as a part of the public school fund, as provided by the constitution of this state. The annual income from the grant, gift or devise shall be appropriated and disbursed and paid over, as near as may be, according to the terms of the writing making the grant, gift or devise, and for no other uses or purposes whatsoever.
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(L. 1963 p. 200 § 7-9)
(Source: RSMo 1959 § 161.260, A.L. 1961 p. 345)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.101 - Gift for public education which cannot be executed placed in public school fund on order of circuit court.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.101. Gift for public education which cannot be executed placed in public school fund on order of circuit court. —
In all cases where a grant, devise or bequest or gift has been made by any person for educational purposes, in aid of or connected with the free public school system, and from any cause cannot be executed or carried out according to its terms and conditions, the person having charge thereof or holding the same in trust, or any person interested therein, may file a petition in the circuit court of the county where the grantor, donor or testator died, setting forth all the facts connected therewith, and, in the discretion of the court in which the petition is filed, an order may be made directing that the amount of the grant, gift, devise or bequest shall be turned over to the director of revenue of the state as a part of the public school fund, according to the terms and conditions of sections 166.011 to 166.121. The annual income on the proceeds of the grant, devise, gift or bequest shall be faithfully appropriated, as near as may be, in meeting and carrying out the purposes and wishes of the grantor, donor, devisor or testator, according to the instrument of writing making the grant, gift, devise or bequest.
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(L. 1963 p. 200 § 7-10)
(Source: RSMo 1959 § 161.280, A.L. 1961 p. 345)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.111 - Liability of director of revenue.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.111. Liability of director of revenue. —
The director of revenue and his sureties shall be responsible on his official bond for the safekeeping of the property or money received under sections 166.061 to 166.121 while the property is in his possession and for its disposition in conformity with section 166.091.
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(L. 1963 p. 200 § 7-11)
(Source: RSMo 1959 § 161.270, A.L. 1961 p. 345)
2023 Missouri Revised Statutes › Title XI - Education and Libraries › Chapter 166 - Permanent Funds and Trusts › Section 166.121 - State, the trustee.

Title XI EDUCATION AND LIBRARIES
Chapter 166
• Effective - 28 Aug 1963
166.121. State, the trustee. —
The state of Missouri is hereby constituted the custodian and trustee under sections 166.061 to 166.121 of all such funds, and pledges itself for the safekeeping, investment and due application of all funds, with the interest thereon, which may be received by the director of revenue or deposited in the treasury in pursuance of sections 166.061 to 166.121.
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(L. 1963 p. 200 § 7-12)
(Source: RSMo 1959 § 161.290, A.L. 1961 p. 345)