Section 414.359

Title XXVI TRADE AND COMMERCE

Chapter 414

Effective - 28 Aug 1999, 2 histories, see footnote   (history) 

  414.359.  Missouri alternative fuel vehicle loan fund established — use of funds. — 1.  There is hereby created in the state treasury the "Missouri Alternative Fuel Vehicle Loan Fund".  The fund may receive moneys from appropriations by the general assembly, repayments by political subdivisions of loans made pursuant to sections 414.350 to 414.359 including interest on such loans, and gifts, bequests, donations or any other payments made by any public or private entity for use in carrying out the provisions of sections 414.350 to 414.359.

  2.  The state treasurer shall deposit all of the moneys in the fund into any of the qualified depositories of this state.  All such deposits shall be secured in such a manner and shall be made upon such terms and conditions as are now or may hereafter be provided by law relative to state deposits.  Interest accrued by the fund shall be credited to the fund.  Notwithstanding the provisions of section 33.080 to the contrary, moneys in the fund shall not revert to the credit of the general revenue fund at the end of the biennium.

  3.  The fund shall be used solely for the purposes of sections 414.350 to 414.359 and for no other purpose.

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(L. 1999 S.B. 310 § 14)