Effective – 28 Aug 2004
33.315. Leasehold revenue bonds, federal desegregation, board of fund commissioners to determine whether redemption is financially feasible. — The board of fund commissioners shall determine whether any governmental entity has sufficient fund balances to redeem leasehold revenue bonds obligated under a federal desegregation action. If the board of fund commissioners determines that any governmental entity has sufficient fund balances to redeem or otherwise pay off such leasehold revenue bonds, the state board of education shall certify, under subdivision (5) of subsection 2 of section 160.415, that no amount is needed by such governmental entity to repay such bonds.
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(L. 2004 H.B. 795, et al. § 2)