Missouri § 245.505 - Sinking fund moneys may be invested.
Full text of Missouri Revised Statutes of Missouri § 245.505 — Sinking fund moneys may be invested., with citation guidance and answers to common questions.
§ 245.505. Sinking fund moneys may be invested.
Whenever there shall be any money belonging to any levee district set apart as a sinking fund for the payment of bonds, the board of directors of such district shall loan the same for the highest obtainable interest, not exceeding eight nor less than six percent per annum, and shall cause the same to be secured by mortgage or deed of trust on real estate, free from all liens and encumbrances, within the county, of the value of double the amount of the loan; and any other funds of said levee district may be deposited at the highest obtainable interest in some bank in the county wherein said district or any part thereof is situated, in the same manner as county school funds are deposited; provided, no such loan or deposit shall be made until the same shall be approved by the county commission of the county in which said district may be situated.
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(RSMo 1939 § 12598)
Prior revisions: 1929 § 11008; 1919 § 4700; 1909 § 5763
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 245.505
What does Revised Statutes of Missouri § 245.505 cover?
Section 245.505 ("Sinking fund moneys may be invested.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 245.505?
A common citation format is "Revised Statutes of Missouri § 245.505" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 245.505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.