SB 303 -- SCHOOL DISTRICT LEASE PURCHASE

This bill permits school boards to purchase equipment and
furniture through lease purchase agreements with vendors.  If
the agreement results in district ownership of the leased
equipment, the lease must have an option that permits the
district to terminate the agreement without a penalty at least
once a year.  These lease purchases are considered capital
outlay and are subject to the fund transfer restrictions of
Section 165.011, RSMo.

Missouri House of Representatives
Last Updated November 26, 2001 at 11:47 am