|SB 0303||Allows school districts to directly enter into lease purchases with vendors|
|LR Number:||1043S.01T||Fiscal Note:||1043-01|
|Last Action:||07/10/01 - Signed by Governor||Journal page:|
|Effective Date:||August 28, 2001|
SB 303 - This act allows school districts to directly enter
into lease purchase agreements with vendors. This authority is
in addition to current authority under Section 177.088, RSMo,
which allows a school district to enter into a lease purchase
agreement with a not-for-profit corporation. Any lease purchase
allowed by this act must allow the school district an opportunity
to terminate the agreement at least annually with no penalty.
Lease purchase expenditures shall be considered "capital outlay"
and shall be expended from the Capital Projects Fund, except for
classroom instructional capital outlay, which may be expended
from the Incidental Fund.