reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.290 - Registered bonds, lawful security.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1951
108.290. Registered bonds, lawful security. —
Any and all bonds registered by the state auditor under the provisions of the laws of this state, and any and all bonds that have been or may be duly issued by any county or city or school district having a population of over three hundred thousand inhabitants, whereon there is no default in payment of principal or interest, may be accepted as good and lawful security for the investment of the capital stock, surplus and reserve funds of any insurance or fraternal benefit society incorporated in or authorized to transact business in this state, or trust company authorized to transact business in this state. The state director of the department of commerce and insurance is hereby authorized to accept such bonds as security or pledge in all cases where such pledge or security is required by the laws of this state. Such bonds may be accepted by the state treasurer as security for the deposit of any and all state funds, and by county and city treasurers as security for the deposit of any and all county and city funds. They shall also be eligible for the investment of any funds in the possession of any administrator, executor, guardian, curator, trustee and all other persons sustaining fiduciary relations. Such investments may be made without an order of court first had and obtained, and without incurring liability for loss, except in case of inexcusable negligence.
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(RSMo 1939 § 3307, A.L. 1951 p. 798)
Prior revisions: 1929 § 2921; 1919 § 1069
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.300 - Provisions not applicable to certain counties, cities or school districts.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1993
108.300. Provisions not applicable to certain counties, cities or school districts. —
Nothing in the provisions of sections 108.240 to 108.300 relating to the registration of bonds shall be so construed as to include any bonds that have been or may be issued by any county of the first classification or city or school district having a population of over sixty-five thousand inhabitants, as established by the last United States census.
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(RSMo 1939 § 3305, A.L. 1945 p. 595, A.L. 1951 p. 798, A.L. 1993 S.B. 339)
Prior revisions: 1929 § 2919; 1919 § 1067; 1909 § 1279
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.310 - Petition for pro forma decree.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
Effective - 28 Aug 1939
108.310. Petition for pro forma decree. —
Whenever the state of Missouri, or any county, township, school district or municipality shall have issued bonds under and by authority of any provision of the Constitution of the state of Missouri, or any law enacted in pursuance thereof, the state, county, township, school district or municipality issuing said bonds may file in the circuit court of the county having jurisdiction of the subject matter a petition praying for a pro forma decree of the court authorizing the issuance of such bonds. The petition for such pro forma decree shall succinctly set forth all the historical facts relating to and concerning the issuance of said bonds, and shall be accompanied by a certified copy of all records, notices, publications, orders, resolutions and other documents pertaining thereto, and shall pray for an order and judgment of such court declaring the validity of the proposed bond issue.
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(RSMo 1939 § 3312)
Prior revision: 1929 § 2926
(1959) Pro forma decree adjudicating validity of city bond issue upheld against charge petition was in nature of ex parte proceeding and there was no justiciable controversy where appellants had appeared personally and filed intervening petition alleging invalidity of bond issue. Boggess v. Pence (Mo.), 321 S.W.2d 667.
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.320 - Notice of presentation of petition — intervening petition.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
Effective - 28 Aug 1939
108.320. Notice of presentation of petition — intervening petition. —
1. The state, county, township, school district or municipality, or the legal representative thereof, shall cause a notice to be published stating the time and place when said petition will be presented, which notice shall set forth the general objects and purposes of the petition and shall be published in at least two issues of some daily or weekly newspaper printed and published in the county where the suit is brought, the last insertion of which shall be not less than three nor more than seven days before the presentation of said petition.
2. Any taxpaying citizen may in person or by legal representative file an intervening petition contesting the validity of such bonds, and in case an intervening petition is filed on or before the day set for the presentation of such petition, the court shall set a definite time for the hearing of said cause at which time the court shall hear and determine all the evidence and see all proofs offered concerning the legality or illegality of such issue.
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(RSMo 1939 § 3313)
Prior revision: 1929 § 2927
(1959) Use of name "City of Liberty" throughout proceedings for issuance of bonds did not invalidate bond issue, although incorporating act provided actions should be prosecuted in name of "Mayor, Councilmen and Citizens of the City of Liberty" where both names were used interchangeably throughout act and city had proceeded under former name for many years. Boggess v. Pence (Mo.), 321 S.W.2d 667.
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.330 - Hearing — court order.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
Effective - 28 Aug 1939
108.330. Hearing — court order. —
Upon hearing, whether an answer has been filed or not, the court shall carefully investigate the record concerning such bond issue, together with all evidence and proofs submitted at such hearing, and if the court be of the opinion that said bonds are legal and that the laws of the state have been fully complied with, then such court shall make an order and decree adjudging such bonds to be a valid and binding obligation upon such state, county, township, school district or municipality issuing the same; which said decree, if not appealed therefrom, shall be final, conclusive and binding upon the state, subdivision or municipality issuing the same, and the legality of such bond when so issued shall not thereafter be subject to being questioned by any other court, and the holder thereof shall be conclusively deemed to be a holder in due course, for values and without notice of defect or infirmity.
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(RSMo 1939 § 3314)
Prior revision: 1929 § 2928
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.340 - Appeal.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
Effective - 28 Aug 1939
108.340. Appeal. —
Any person or persons aggrieved by the judgment and decree of the court may appeal in like manner as appeals are taken in other civil cases.
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(RSMo 1939 § 3315)
Prior revision: 1929 § 2929
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.350 - Court to determine appeal without delay.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
Effective - 28 Aug 1939
108.350. Court to determine appeal without delay. —
Whenever any cause has been appealed the appellate court shall, without delay, hear and determine the same without regard to the judgment of the circuit court and render such judgment as should have been rendered by the circuit court.
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(RSMo 1939 § 3316)
Prior revision: 1929 § 2930
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.400 - Refunding bonds authorized.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1975
108.400. Refunding bonds authorized. —
Any county of the first class having a charter form of government and containing the greater part of a city with a population of four hundred fifty thousand inhabitants or more having outstanding its general obligation bonds payable in whole or in part from ad valorem taxation, may from time to time, without an election, issue its general obligation refunding bonds pursuant to the provisions of sections 108.400 to 108.410 to refund any previous issue or part thereof of its outstanding general obligation bonds. The principal amount of the refunding bonds shall not exceed the principal amount of bonds being refunded, together with any matured and unpaid interest thereon to the date of the refunding.
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(L. 1975 H.B. 721 § 1)
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.405 - Refunding bonds, how issued.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1975
108.405. Refunding bonds, how issued. —
The refunding bonds may be sold or exchanged for the bonds being refunded, either as a whole or in installments, at any time or times, either at, before, or after the maturity of the bonds being refunded. However, if the refunding bonds are sold, the bonds being refunded pursuant to the provisions of sections 108.400 to 108.410 shall have been outstanding for not less than one year and the bonds shall become due or shall be subject to redemption and payment in accordance with their terms within ten years from the date of issuance of the refunding bonds. If the refunding bonds are sold more than one year prior to the maturity or redemption date of the bonds being refunded, the maturity of the refunding bonds shall not extend beyond the last maturity date of the bonds being refunded, and, upon such sale, the proceeds derived from the sale of the refunding bonds shall be placed in escrow with a bank or trust company having full trust powers and which shall be a member of the Federal Deposit Insurance Corporation. The proceeds shall be invested promptly in direct obligations of the United States of America or of its agencies or instrumentalities or in obligations the principal of and the interest on which are unconditionally guaranteed by the United States of America, which obligations shall mature or be subject to redemption by the holder thereof not later than the respective dates when the proceeds of the obligations, together with the interest accruing thereon, and any other moneys or investments held in escrow, will be required for the purposes intended.
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(L. 1975 H.B. 721 § 2)
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.410 - Refunding bonds to refer to sections 108.400 to 108.410 — ordinance to set denomination and rate and term within limits.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1975
108.410. Refunding bonds to refer to sections 108.400 to 108.410 — ordinance to set denomination and rate and term within limits. —
Refunding bonds issued under the provisions of sections 108.400 to 108.410 shall make reference to sections 108.400 to 108.410 and, except as otherwise provided by sections 108.400 to 108.410, may become due in not to exceed twenty years from the date thereof. The bonds shall be in such denomination, bear such rate or rates of interest, not exceeding the average rate borne by the bonds being refunded, be payable at such place or places, and contain such redemption privileges as may be specified in the ordinance, order, or resolution authorizing the bonds.
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(L. 1975 H.B. 721 § 3)
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.455 - Bond issue, requirements and restrictions — exempt from state and local income tax.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 09 Jul 1981, see footnote
108.455. Bond issue, requirements and restrictions — exempt from state and local income tax. —
1. Revenue bonds issued pursuant to the provisions of sections 108.450 to 108.470 shall be of such denomination, shall bear such rate or rates of interest not to exceed fourteen percent per annum, and shall mature at such time or times, not exceeding thirty-five years from their date of issue, as determined by the county commission, or the legislative body of the county, in its order, resolution or ordinance directing the issuance of the bonds. The bonds may be either serial bonds or term bonds and may be issued with or without reservation of the right to call them for payment or redemption in advance of their maturity, upon the giving of notice, and with or without a covenant requiring the payment of a premium in the event of a call for redemption prior to maturity. The bonds may be sold at such price or prices as the issuing county shall determine, but at not less than ninety-four percent of the principal amount thereof. Such bonds shall be sold at public sale or at private sale if the applicable county commission or applicable legislative body of the county determines it is in the best interest of the issuing county or counties to sell such bonds at private sale. The reason or reasons that private sale is in the best interest of the issuing county or counties shall be set forth in the ordinance, order or resolution authorizing the private sale. The decision of the applicable county commission or applicable county legislative body shall be conclusive.
2. The bonds when issued and sold shall be negotiable instruments within the meaning of chapter 400 and the interest thereon shall be exempt from any state or local income taxes under the laws of the state of Missouri. The provisions of section 409.402 to the contrary notwithstanding, the bonds issued pursuant to the provisions of sections 108.450 to 108.470 shall be subject to the provisions of sections 409.101 to 409.418, the Missouri uniform securities act.
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(L. 1980 S.B. 554 § 2, A.L. 1981 S.B. 263)
Effective 7-09-81
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.460 - Form and detail of bonds to be prescribed — criteria for mortgages may be established.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1980
108.460. Form and detail of bonds to be prescribed — criteria for mortgages may be established. —
1. The county commission, county legislative body or combination of counties issuing bonds under the provisions of sections 108.450 to 108.470 shall prescribe the form, details and incidents of the bonds, and shall make such covenants as in its judgment are advisable or necessary to properly secure the payment thereof; but the form, details, incidents, and covenants shall not be inconsistent with any of the provisions of sections 108.450 to 108.470. The county commission, county legislative body or combination of counties may prescribe more restrictive or additional criteria for mortgages qualifying for the purposes specified in section 108.450, and the restrictions and criteria established in the Internal Revenue Code of 1954, as amended, as presently existing or as hereafter amended, for qualification under section 103 of the Internal Revenue Code of 1954, as amended, or other applicable provision thereof for the exemption from federal income taxes of interest paid on revenue bonds issued pursuant to sections 108.450 to 108.470 shall apply to all bonds issued pursuant to sections 108.450 to 108.470.
2. The county commission, legislative body of the county or combination of counties, may prescribe in any order or resolution directing the issuance of bonds hereunder the terms and conditions under which the holder, or any specified percentage of all holders, of any such bonds or of any coupons representing interest accrued thereon may, by civil action, compel the county commission or county legislative body issuing such bonds to perform all duties imposed upon it by the provisions of sections 108.450 to 108.470 and to enforce the performance of any and all of the covenants made by the county commission, or county legislative body, in the issuance of the bonds.
3. The provisions of sections 108.450 to 108.470 shall not be exclusive of other legal methods of financing single-family residential housing, but shall furnish an alternative method of finance.
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(L. 1980 S.B. 554 § 3)
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.465 - County defined to include certain cities.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1980
108.465. County defined to include certain cities. —
As used in sections 108.450 to 108.470, the word
"county"
includes the City of St. Louis and any city having adopted an industrial development plan under the provisions of sections 100.010 to 100.200.
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(L. 1980 S.B. 554 § 4)
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.470 - Discrimination in granting of loans is unlawful.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1980
108.470. Discrimination in granting of loans is unlawful. —
It shall be unlawful for any revenue bond authority, or any agent thereof, to deny a residential real estate loan to a person because of the specific geographic location of the residential real estate or to discriminate on the basis of race, color, religion, national origin, handicap, age, marital status, or sex, of the applicant for a residential real estate loan or the race, religion or national origin of persons living in the vicinity of the residential real estate.
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(L. 1980 S.B. 554 § 5)
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.500 - Definitions.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.500. Definitions. —
As used in sections 108.500 to 108.532, the following terms mean:
(1)
"Code"
, the Internal Revenue Code of 1986;
(2)
"Director"
, director of the department of economic development or his designee;
(3)
"Issuers"
, state agencies, cities, counties and other entities having authority to issue private activity bonds;
(4)
"Private activity bonds"
, private activity bonds within the meaning of Sections 141, 146(g) and 146(i) of the Code;
(5)
"State ceiling"
, the aggregate amount of private activity bonds, the interest on which is excludable from federal gross income pursuant to Section 103(a) of the Code, which may be issued within the state of Missouri during any calendar year commencing after 1987 in accordance with Section 146 of the Code.
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(L. 1985 S.B. 140 § 2, A.L. 1987 S.B. 351)
Effective 1-01-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.502 - Allocation to bond issuers, state ceiling used.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.502. Allocation to bond issuers, state ceiling used. —
The allocation system provided in Section 146 of the Code with respect to all issuers, whether local or state, is hereby revoked for calendar years after December 31, 1987. The state ceiling shall be allocated among issuers, whether local or state, by the director in accordance with the terms and conditions of sections 108.500 to 108.532.
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(L. 1987 S.B. 351 § 108.503)
Effective 1-01-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.508 - State ceiling for each calendar year, how calculated.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 25 May 1990, see footnote
108.508. State ceiling for each calendar year, how calculated. —
The dollar amount of the state ceiling for the state of Missouri for each calendar year commencing January 1, 1988, shall be determined by the director on or before the beginning of each such calendar year in accordance with Section 146 of the Code.
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(L. 1987 S.B. 351 § 108.505, A.L. 1990 S.B. 632)
Effective 5-25-90
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.510 - Allocation application, form — criteria for consideration of approval by director — rules, promulgation, procedure.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1995
108.510. Allocation application, form — criteria for consideration of approval by director — rules, promulgation, procedure. —
1. Prior to any issuance of any private activity bonds, all issuers, whether state or local, shall first make a request for an allocation by filing a signed application for each project with the director in the form prescribed by the director. Such applications for allocations shall be considered by the director in accordance with the provisions of sections 108.500 to 108.532 and, in making such allocations, the director shall consider the economic development objectives of the state, including:
(1) The mobility of the project for which the allocation is being sought, including the ability of the prospective beneficiary of the allocation to locate the project in a state other than Missouri;
(2) The potential impact of the project upon existing businesses in the local market;
(3) The type of project or financing for which the allocation is sought;
(4) The number of persons, families or businesses which would benefit from the proposed project or financing.
­­The director may in his discretion, promulgate rules or regulations to be followed in considering such applications for allocations of the state ceiling.
2. No rule or portion of a rule promulgated under the authority of sections 108.500 to 108.532 shall become effective unless it has been promulgated pursuant to the provisions of section 536.024.
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(L. 1987 S.B. 351 § 108.507, A.L. 1993 S.B. 52, A.L. 1995 S.B. 3)
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.512 - Notification of approval, rejection — expiration of approved allocation.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.512. Notification of approval, rejection — expiration of approved allocation. —
1. Within ten business days after receipt of an application, the director shall notify the issuer (by first class mail) that:
(1) The application has been approved and the amount of the approved allocation;
(2) The application has been denied; or
(3) The application has been placed on hold pending receipt of additional information with respect to the application or pending a review of the effect of approving the application on the state ceiling for such year.
2. Unless an extension is approved by the director as provided in subsection 1 of section 108.518 or a carry-forward election is approved by the director pursuant to section 108.522, such approved allocation shall expire on the earliest of:
(1) 11:59 p.m. central standard time on the date which is sixty days from the date the approved allocation is mailed to the issuer or such other date as has been specified by the director in his notification of such approved allocation;
(2) The date upon which such approved allocation is voluntarily surrendered to the director by the issuer; or
(3) 11:59 p.m. central standard time on December eighteenth of each year.
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(L. 1987 S.B. 351 § 108.509)
Effective 1-1-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.518 - Extension procedure — time authorized — bonds not issued, expire when.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.518. Extension procedure — time authorized — bonds not issued, expire when. —
1. For good cause shown, an issuer may request an extension of the expiration date of an approved allocation by filing a written notice for extension with the director, which request must be received by the director not less than five days prior to the expiration of the initial period specified by the director pursuant to section 108.512. In such instances, the director may, in his discretion, approve an extension for a period ending on the earliest of:
(1) 11:59 p.m. central standard time on the date which is thirty days beyond the initial expiration date specified by the director pursuant to section 108.512 hereof;
(2) The date upon which such approved allocation is voluntarily surrendered to the director by the issuer; or
(3) 11:59 p.m. central standard time on December eighteenth of such year.
­­The director shall notify the issuer within five business days after receipt if the request for extension has been approved or denied. In the event the bonds are not issued on or before the last day of the applicable extension period pursuant to the immediately preceding sentence, the approved allocation shall expire unless a carry-forward election is approved by the director pursuant to section 108.522.
2. Notwithstanding any other provision of sections 108.500 to 108.532, if an approved allocation or extension thereof expires on December eighteenth of such year in accordance with the provisions of section 108.512 or subsection 1 of this section, the director, in his discretion, may grant an extension or further extension for a period ending not later than 11:59 p.m. central standard time on December thirty-first of such year.
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(L. 1987 S.B. 351 §§ 108.511, 108.513)
Effective 1-1-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.520 - Certification of bonds.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.520. Certification of bonds. —
The director shall provide to the issuer on or prior to the date of issuance of any bonds for which an approved allocation has not expired a certification, in substantially the form required by Section 149 of the Code, that such bonds meet the requirements of Section 146 of the Code.
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(L. 1987 S.B. 351 § 108.515)
Effective 1-01-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.522 - Carry-forward election, procedure.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 28 Aug 1991
108.522. Carry-forward election, procedure. —
On or after December fifteenth of each year, the director may, in his discretion, approve a carry-forward election with respect to an approved allocation or any extension thereof if the issuer, in writing, requests such action and indicates that the bonds for which the approved application was granted cannot be issued in the calendar year in which such allocation was granted. Such approved carry-forward election shall be made by the issuer by means of a statement, signed by a duly authorized official of such issuer. Such statement shall be filed with the director and with the Internal Revenue Service prior to the end of such calendar year in accordance with section 146(f) of the Code and the regulations promulgated thereunder. An issuer may elect to carry forward such issuing authority only for qualified mortgage bonds, exempt facility bonds, industrial revenue bonds, mortgage credit certificates, qualified student loan bonds, qualified redevelopment bonds, as such terms are defined in sections 142, 143 and 144 of the Code, or for bonds to finance a project described in section 141(d)(1)(A) of the Code. In no event shall such carry-forward be effective for a period longer than permitted by section 146(f) of the Code and the regulations promulgated thereunder. The director shall not approve an allocation for private activity bonds to be issued for the purpose of financing a project described in section 1317(3)(F)(ii) of the federal Tax Reform Act of 1986 unless such bonds are to be issued after December 31, 1989.
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(L. 1987 S.B. 351 § 108.517, A.L. 1989 S.B. 295 & 312, A.L. 1991 S.B. 145)
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.524 - Expiration, resubmission of application.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.524. Expiration, resubmission of application. —
In the event an approved allocation expires as provided in section 108.512 or 108.518, the issuer may resubmit an application for an allocation for the same project. Such resubmitted application shall be reviewed in the order of date received with no preference or priority being given as a result of the prior application for the same project or financing.
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(L. 1987 S.B. 351 § 108.519)
Effective 1-01-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.526 - Report of all private activity bonds issued, when — procedure.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.526. Report of all private activity bonds issued, when — procedure. —
All issuers, whether state or local, are hereby required to report the amount of all private activity bonds issued pursuant to an approved allocation in accordance with sections 108.500 to 108.532 to the director by telephone no later than the next business day after the date of issuance of said bonds, which notice shall be confirmed in writing by overnight delivery service approved by the director, or by certified mail, return receipt requested, postmarked no later than five calendar days after the issuance of such bonds, such notice to be in the form prescribed by the director.
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(L. 1987 S.B. 351 § 108.521)
Effective 1-01-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.528 - Violations, effect.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.528. Violations, effect. —
Failure by an issuer to report in accordance with the provisions of section 108.526, or otherwise to abide by the terms of sections 108.500 to 108.532, may, at the discretion of the director, result in the forfeiture of future allocations for private activity bonds.
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(L. 1987 S.B. 351 § 108.523)
Effective 1-01-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.530 - State ceiling, revision of, director to make recommendations, when.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.530. State ceiling, revision of, director to make recommendations, when. —
The director, from time to time, shall review and evaluate the use and demand for private activity bonds in proportion to the unused or uncommitted portion of the state ceiling. If, in the discretion of the director, it appears that the allocation of the state ceiling pursuant to the provisions hereof should be revised, then, the director shall recommend to the governor and the general assembly an alternative method by which to utilize the unused or uncommitted portion of the state ceiling.
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(L. 1987 S.B. 351 § 108.525)
Effective 1-01-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.532 - Allocation of state ceiling, law applicable, when.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 01 Jan 1988, see footnote
108.532. Allocation of state ceiling, law applicable, when. —
Sections 108.500 to 108.532 shall govern the allocation of the state ceiling for each calendar year commencing after December 31, 1987.
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(L. 1987 S.B. 351 § 108.527)
Effective 1-01-88
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.902 - Bonds, how registered.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.902. Bonds, how registered. —
When the bonds shall have been issued, they shall be registered in the office of the state auditor in a book to be provided by him for that purpose, and he shall endorse on each bond his certificate that in the issuance thereof all of the conditions of the law have been complied with, and shall sign such certificate and authenticate the same with the seal of his office.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 3)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.903 - Bonds, how sold, deposits — proceeds — expenses of sale, how paid.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.903. Bonds, how sold, deposits — proceeds — expenses of sale, how paid. —
The board of fund commissioners shall offer such bonds at public sale, and shall provide such method as it may deem necessary for the advertisement of the sale of each issue of the bonds before the same are sold, and shall require a deposit of such sum with each bid as will in its judgment be sufficient to guarantee the fulfillment thereof and generally shall conduct the sale or sales under such rules and regulations as shall to it seem advisable, provided the same are consistent with sections 108.900 to 108.914. The board may reserve the right to reject any and all bids. The proceeds thereof shall be paid into the state treasury as herein provided. All expenses incurred by the board of fund commissioners in issuing the bonds, or any part thereof, and attending the placing of the bonds on the market in a marketable condition, shall be paid by the state treasurer out of the proceeds of the sale of the bonds upon warrants drawn by the commissioner of administration to persons entitled thereto.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 4)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.904 - Proceeds of sales paid into third state building fund — purchase preferences for Missouri products and firms, when.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.904. Proceeds of sales paid into third state building fund — purchase preferences for Missouri products and firms, when. —
The moneys realized from the sale of bonds under the provisions of sections 108.900 to 108.914 shall be paid into the state treasury, to the credit of the "Third State Building Fund", and shall be appropriated by the general assembly for the purposes for which the bonds are authorized to be issued and for the payment of all necessary expenses incidental thereto. In making direct purchases of commodities and expending funds from the third state building fund for commodities, the commissioner of administration shall give preference to all commodities manufactured, mined, produced or grown within the state of Missouri and to all firms, corporations or individuals doing business as Missouri firms, corporations or individuals, when quality is equal or better and delivered price is the same or less.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 5)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.906 - Projects to be authorized by general assembly, exceptions.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.906. Projects to be authorized by general assembly, exceptions. —
With the exception of those projects involving the repair, replacement or maintenance of state buildings or facilities for which at least twenty percent of any year's appropriations from the fund are reserved as provided in section 108.905, no project proposed to be funded from the third state building fund shall be commenced unless the general assembly shall first have specifically authorized such undertaking by passage of legislation apart from its ordinary appropriation process.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 7)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.907 - Third state building fund, deposits, how made — interest to accrue to fund.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.907. Third state building fund, deposits, how made — interest to accrue to fund. —
The state treasurer, with the approval of said board of fund commissioners, is authorized to deposit all of the money in the third state building fund in the manner now or hereafter provided in section 30.260. Any interest received on such deposits shall be credited to the third state building fund.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 8)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.908 - Third state building bond interest and sinking fund created, how used.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.908. Third state building bond interest and sinking fund created, how used. —
There is hereby created in and for the state treasury of the state of Missouri a fund to be known and designated as "The Third State Building Bond Interest and Sinking Fund". Upon the issuance of the bonds or any portion thereof, the state board of fund commissioners shall notify the commissioner of administration of the amount of money required, in the remaining portion of the fiscal year during which the bonds are issued, for the payment of interest on the bonds, and of the amount of money required for the payment of interest on the bonds in the next succeeding fiscal year, and to pay the bonds as they mature. Thereafter, within thirty days after the beginning of each fiscal year, the state board of fund commissioners shall notify the commissioner of administration of the amount of money required for the payment of interest on the bonds in the next succeeding fiscal year, and to pay the bonds as they mature. Thereafter, within thirty days after the beginning of each fiscal year, the state board of fund commissioners shall notify the commissioner of administration of the amount of money required for the payment of interest on the bonds in the next succeeding fiscal year and to pay the bonds maturing in such next succeeding fiscal year. The commissioner of administration shall transfer, at least monthly, from the state revenue fund, after deducting therefrom the proportionate part thereof appropriated for the support of the free public schools, and to the credit of the third state building bond interest and sinking fund such sum as may be necessary from time to time until there is transferred to the fund the amount so certified to him by the state board of fund commissioners, as hereinabove provided.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 9)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.909 - Third state building bond interest and sinking fund, deposits how made — interest to accrue to fund.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.909. Third state building bond interest and sinking fund, deposits how made — interest to accrue to fund. —
The state treasurer, with the approval of the board of fund commissioners, is authorized to deposit all of the moneys in the third state building bond interest and sinking fund in the manner now or hereafter provided in section 30.260. Interest received on such deposits shall be credited to the third state building bond interest and sinking fund.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 10)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.910 - Tangible property tax, when levied.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.910. Tangible property tax, when levied. —
If at any time after the issuance of any of the bonds it becomes apparent to the commissioner of administration that the funds available in the state revenue fund will not be sufficient for the payment of principal and interest on outstanding obligations of the state, and for the purpose of public education, and the principal and interest maturing and accruing on the bonds issued hereunder during the next succeeding fiscal year, a direct tax shall be levied upon all taxable tangible property in the state for the payment of the bonds and the interest that will accrue thereon. In such event, the commissioner of administration shall annually, on or before the first day of July, determine the rate of taxation necessary to be levied upon all taxable tangible property within the state to raise the amount of money needed to pay the principal and interest on such bonds maturing and accruing in the next succeeding fiscal year, taking into consideration available funds, delinquencies and costs of collection. The commissioner of administration shall annually certify the rate of taxation so determined to the county clerk of each county and to the comptroller or other officer in the city of St. Louis whose duty it is to make up and certify the tax books wherein are extended the ad valorem state taxes. The clerks and the comptroller, or other proper officer in the city of St. Louis, shall extend upon the tax books the taxes to be collected and shall certify the same to the collectors of the revenue of their respective counties and of the city of St. Louis, who shall collect such taxes at the same time and in the same manner and by the same means as are now or may hereafter be provided by law for the collection of state and county taxes, and pay the same into the state treasury for the credit of the third state building bond interest and sinking fund.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 11)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.911 - Third state building bond interest and sinking fund money to stand appropriated for payment of principal and interest on bonds.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.911. Third state building bond interest and sinking fund money to stand appropriated for payment of principal and interest on bonds. —
All funds paid into the third state building bond interest and sinking fund shall be and stand appropriated without legislative action to the payment of principal and interest of the bonds, there to remain until paid out in discharge of the principal of the bonds and interest accruing thereon, and no part of such funds shall be used for any other purpose so long as any of the principal of the bonds and the interest thereon shall be unpaid.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 12)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.912 - Bonds, principal and interest, how paid — repurchase, when.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.912. Bonds, principal and interest, how paid — repurchase, when. —
All bonds herein authorized to be issued shall be paid at maturity and all interest accruing thereon shall be paid when it falls due by the state treasurer, at a place designated in the bonds and coupons, if any, attached. Thirty days before any of the bonds mature and any of the interest thereon falls due, it shall be the duty of the board of fund commissioners to draw its requisition for the amount necessary to pay such interest on the bonds and the principal of maturing bonds and the necessary expenses to be incurred in transmitting such moneys. The commissioner of administration shall certify the amount and shall issue his warrant upon the state treasury therefor in favor of the president of the board of fund commissioners, payable out of the third state building bond interest and sinking fund. The warrant shall be delivered to the state treasurer who shall transmit the amount of money therein specified to the paying agents named in the bonds with instructions to place such money to the credit of the board of fund commissioners for the payment of interest or principal of such bonds. Whenever in the opinion of the board of fund commissioners it is advisable to do so, and there are sufficient funds therefor, the board may redeem any of the bonds before maturity if the holders thereof agree thereto, and may also purchase any of the bonds in the open market whenever funds are available and in the opinion of the board it is to the advantage of the state to do so.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 13)
Effective 12-20-82
2023 Missouri Revised Statutes › Title VIII - Public Officers and Employees, Bonds and Records › Chapter 108 - Bond Issues, Miscellaneous Provisions › Section 108.913 - Treasurer to report on bond transactions to general assembly.

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS
Chapter 108
• Effective - 20 Dec 1982, see footnote
108.913. Treasurer to report on bond transactions to general assembly. —
The state treasurer shall furnish to the general assembly, from time to time, a detailed statement of the total amount of bonds and the total amount of the proceeds thereof, the expense of collection and the amounts used to carry out the provisions of sections 108.900 to 108.914.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 14)
Effective 12-20-82