414.359. Missouri alternative fuel vehicle loan fund established--use of funds.
Missouri alternative fuel vehicle loan fund established--use of funds.
414.359. 1. There is hereby created in the state treasury the"Missouri Alternative Fuel Vehicle Loan Fund". The fund may receive moneysfrom appropriations by the general assembly, repayments by politicalsubdivisions of loans made pursuant to sections 414.350 to 414.359including interest on such loans, and gifts, bequests, donations or anyother payments made by any public or private entity for use in carrying outthe provisions of sections 414.350 to 414.359.
2. The state treasurer shall deposit all of the moneys in the fundinto any of the qualified depositories of this state. All such depositsshall be secured in such a manner and shall be made upon such terms andconditions as are now or may hereafter be provided by law relative to statedeposits. Interest accrued by the fund shall be credited to the fund.Notwithstanding the provisions of section 33.080, RSMo, to the contrary,moneys in the fund shall not revert to the credit of the general revenuefund at the end of the biennium.
3. The fund shall be used solely for the purposes of sections 414.350to 414.359 and for no other purpose.
(L. 1999 S.B. 310 § 14)