Fund created, use of income and corpus, investments.
253.360. 1. There is hereby created the "Doctor Edmund A.Babler Memorial State Park Fund". All money, funds, andsecurities acquired as provided in section 253.350 shall bedeposited with the state treasurer to the credit of the fund.All income, interest, rights or rent earned through the operationof the fund shall also be credited to the fund.
2. The state treasurer shall be the custodian of all money,bonds, securities or interests and rights therein deposited inthe state treasury to the credit of the Doctor Edmund A. BablerMemorial State Park fund and he and his sureties are responsibleon his official bond for the faithful performance of his dutiesin the safekeeping of all money or property of the fund asprovided in this section and section 253.350 and for thedisbursement of such money or property upon warrants drawn by theMissouri department of natural resources.
3. The Missouri department of natural resources isauthorized to use the income of the fund created by this sectionfor the purposes for which the fund is dedicated and, inaddition, may expend annually an amount equal to seven andone-half percent of the corpus of the fund for the same purposes.Such amounts shall be subject to appropriation by the generalassembly.
4. So far as practicable, the money, bonds, and othersecurities of the fund shall be kept safely invested so as toearn a reasonable return. The Missouri department of naturalresources shall select such investments as are permitted by thelaws of Missouri relating to the investment of the capital,reserve and surplus funds of life insurance companies or casualtyinsurance companies organized under the laws of Missouri, and thestate treasurer shall make such investments or reinvestments asdirected by the department. The department may retain theservices of and pay a reasonable fee to a professional investmentcounselor or a trust company to advise it in the selection ofsuch investments.
Fund created, use of income and corpus, investments.
253.360. 1. There is hereby created the "Doctor Edmund A.Babler Memorial State Park Fund". All money, funds, andsecurities acquired as provided in section 253.350 shall bedeposited with the state treasurer to the credit of the fund.All income, interest, rights or rent earned through the operationof the fund shall also be credited to the fund.
2. The state treasurer shall be the custodian of all money,bonds, securities or interests and rights therein deposited inthe state treasury to the credit of the Doctor Edmund A. BablerMemorial State Park fund and he and his sureties are responsibleon his official bond for the faithful performance of his dutiesin the safekeeping of all money or property of the fund asprovided in this section and section 253.350 and for thedisbursement of such money or property upon warrants drawn by theMissouri department of natural resources.
3. The Missouri department of natural resources isauthorized to use the income of the fund created by this sectionfor the purposes for which the fund is dedicated and, inaddition, may expend annually an amount equal to seven andone-half percent of the corpus of the fund for the same purposes.Such amounts shall be subject to appropriation by the generalassembly.
4. So far as practicable, the money, bonds, and othersecurities of the fund shall be kept safely invested so as toearn a reasonable return. The Missouri department of naturalresources shall select such investments as are permitted by thelaws of Missouri relating to the investment of the capital,reserve and surplus funds of life insurance companies or casualtyinsurance companies organized under the laws of Missouri, and thestate treasurer shall make such investments or reinvestments asdirected by the department. The department may retain theservices of and pay a reasonable fee to a professional investmentcounselor or a trust company to advise it in the selection ofsuch investments.
Fund created, use of income and corpus, investments.
253.360. 1. There is hereby created the "Doctor Edmund A.Babler Memorial State Park Fund". All money, funds, andsecurities acquired as provided in section 253.350 shall bedeposited with the state treasurer to the credit of the fund.All income, interest, rights or rent earned through the operationof the fund shall also be credited to the fund.
2. The state treasurer shall be the custodian of all money,bonds, securities or interests and rights therein deposited inthe state treasury to the credit of the Doctor Edmund A. BablerMemorial State Park fund and he and his sureties are responsibleon his official bond for the faithful performance of his dutiesin the safekeeping of all money or property of the fund asprovided in this section and section 253.350 and for thedisbursement of such money or property upon warrants drawn by theMissouri department of natural resources.
3. The Missouri department of natural resources isauthorized to use the income of the fund created by this sectionfor the purposes for which the fund is dedicated and, inaddition, may expend annually an amount equal to seven andone-half percent of the corpus of the fund for the same purposes.Such amounts shall be subject to appropriation by the generalassembly.
4. So far as practicable, the money, bonds, and othersecurities of the fund shall be kept safely invested so as toearn a reasonable return. The Missouri department of naturalresources shall select such investments as are permitted by thelaws of Missouri relating to the investment of the capital,reserve and surplus funds of life insurance companies or casualtyinsurance companies organized under the laws of Missouri, and thestate treasurer shall make such investments or reinvestments asdirected by the department. The department may retain theservices of and pay a reasonable fee to a professional investmentcounselor or a trust company to advise it in the selection ofsuch investments.
