ST. LOUIS BOARD OF EDUCATION POLICY
The Board of Education may obtain the funds necessary to construct new buildings, purchase school sites, erect additions to existing schoolhouses, repair and remodel schoolhouses, and furnish the same with the passage of a school bond issue as provided for in the Missouri state statutes.
The board may issue funding and refunding bonds for the district. The monies received from the sale of the bonds other than refunding bonds shall be credited to the capital projects fund.
Money derived from taxation for the retirement of bonds and the payment of interest thereon shall be credited to the debt service fund.
If a balance remains in the bond proceeds after completion of the project for which the bonds were issued, the balance shall be transferred from the capital projects fund to the debt service fund.
If a balance remains in the debt services fund, after the total outstanding indebtedness for which the fund was levied is paid, the board may transfer the balance to the capital projects fund.
Financing for capital projects shall be in compliance with state law, Chapter 165 RSMo.
Legal: Sections 108.140, 108.170, 164.141, 164.151, 164.161, 164.191, 165.011 RSMo.
Policy Adopted: July 24, 2001