EXECUTIVE ORDER
86-15

Whereas, the 83rd General Assembly, Second Regular Session, has truly agreed to and finally passed House Substitute for House Committee Substitute for House Bill 1652; and

Whereas, the Governor has signed said House Bill into law; and

Whereas, certain questions have been raised as to the proper manner in which the executive branch should implement the law.

NOW, THEREFORE, I, JOHN ASHCROFT, GOVERNOR OF THE STATE OF MISSOURI, by virtue of the authority vested in me by the Constitution and laws of Missouri hereby order and direct as follows:

1. The State Lottery account authorized in HS HCS HB 1652 shall be considered and administered as part of the state treasury. Pursuant to HS HCS HB 1652 funds in the State Lottery account not currently needed for prize money, administration costs, commissions and pro-notion costs shall be invested by the Lottery Commission in interest-bearing investments in accordance with the investment powers of the State Treasurer contained in Chapter 30, RS[']o.

2. The monies in the State Lottery account shall be deposited in depositories selected by the State Lottery Commission according to the provisions in Section 313.21O, including tie requirement that each depository contract shall be awarded on the basis of lowest and best bid on an evaluated basis in order to maximize revenues to the lottery account.

Depositories in which the lottery account is deposited are subject to the disapproval of the State Treasurer, the State Auditor, and the Governor, and shall give security satisfactory to the Lottery Commission, State Treasurer, the State Auditor, and the Governor for the safe keeping and payment of the deposits and interest thereon pursuant to deposit agreements made with the Lottery Commission.

3. No money shall be withdrawn frown the State Lottery account except by warrant drawn in accordance with an appropriation made by law, nor shall any obligation for that payment of money be incurred unless the Commissioner of Administration certifies it for parent and certifies that the expenditures are within the purpose as directed by the General Assembly of the appropriation and that there is in the appropriation an unencumbranced balance sufficient to pay it. At the tine of issuance each such certification shall be entered on the general accounting books as an encumbrance on the appropriation. No appropriation shall confer authority to incur an obligation after the termination of the fiscal year to which it relates, and every appropriation shall expire two months after the end of the period for which made.

4. Upon the effective date of HS HCS HB 1652, in accordance with that bill, a minimum of forty-five percent of the moneys received from the sale of Missouri state lottery tickets from and after June 11, 1986 is subject to transfer to the credit of the general revenue fund in the state treasury. Such transfers shall be made on a monthly basis thereafter.

IN WITNESS WHEREOF, I have hereunto set my hand and caused to be affixed the Great Seal of the State of Missouri, in the City of Jefferson, on this 26th day of June, 1986.

[John Ashcroft's signature]
GOVERNOR

ATTEST:

[Roy D. Blunt's signature]
SECRETARY OF STATE

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