SB440 - Allows Districts With Debt Service Levy at or Above State Average to Make Certain Transfers For Lease Purchase Pymts.

SB 0440

Allows Districts With Debt Service Levy at or Above State Average to Make Certain Transfers For Lease Purchase Pymts.

Sponsor:	Childers
LR Number:	S1745.01I	Fiscal Note:	1745-01
Committee:	Education
Last Action:	03/19/97 - Hearing Conducted S Education Committee		Journal page:
Title:
Effective Date:	August 28, 1997

Full Bill Text | All Actions | Available Summaries | Senate Home Page | List of 1997 Senate Bills

Current Bill Summary

SB 440 - This act pertains to allowable transfers for payment of lease purchases by schools. Currently, payments for lease purchases must be made from the capital projects fund, and transfers of operating revenues to the capital projects fund are limited.

The bill allows a district which levies a debt service levy no less than the statewide average debt service levy for the preceding year to be treated as a grandfathered district and transfer operating revenues to the capital projects fund to meet obligations of lease purchases pursuant to subsection 7 of section 165.011, RSMo.
OTTO FAJEN