FIRST REGULAR SESSION
SENATE BILL NO. 303
91ST GENERAL ASSEMBLY
INTRODUCED BY SENATOR JOHNSON.
Read 1st time January 16, 2001, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
1043S.01I
AN ACT
To amend chapter 177, RSMo, by adding thereto one new section relating to school lease purchases.
Section A. Chapter 177, RSMo, is amended by adding thereto one new section, to be known as section 177.082, to read as follows:
177.082. The school board may purchase apparatus, equipment and furnishings for its schools and operations by entering into lease purchase agreements with vendors. Any agreement which may result in school district ownership of the leased object must contain a provision which allows the district an option to terminate the agreement on at least an annual basis without penalty. All expenditures related to lease purchase agreements shall be considered expenditures for capital outlay and shall be made pursuant to the provisions of section 165.011, RSMo.