Missouri § 360.116 - Payment of grants, procedure — refunding or refinancing existing bonds, net present value savings amount.
Full text of Missouri Revised Statutes of Missouri § 360.116 — Payment of grants, procedure — refunding or refinancing existing bonds, net present value savings amount., with citation guidance and answers to common questions.
§ 360.116. Payment of grants, procedure — refunding or refinancing existing bonds, net present value savings amount.
1. Payment of grants under sections 360.111 to 360.118 shall be made from funds appropriated for such purpose under section 164.303. Payment shall be authorized by the commissioner of education upon receipt of the closing legal opinion for the bonds by the commissioner of education and a certification by the school district that the funds will be used for costs relating to projects approved under and satisfying the qualifications and requirements of subsection 1 of section 360.113.
2. Any refunding or refinancing of existing bonds of a school district under sections 360.111 to 360.118 shall have a net present value savings of at least one and one-half percent of the par amount of the refunded bonds.
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(L. 1995 S.B. 301 § 360.111 subsecs. 8, 9)
Effective 6-27-95
---- end of effective 27 Jun 1995 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 360.116
What does Revised Statutes of Missouri § 360.116 cover?
Section 360.116 ("Payment of grants, procedure — refunding or refinancing existing bonds, net present value savings amount.") 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 § 360.116?
A common citation format is "Revised Statutes of Missouri § 360.116" (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 § 360.116 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.