reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.155 - Revenue bonds, municipalities, refunding issue authorized — form and terms.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 22 Jun 1983, see footnote
100.155. Revenue bonds, municipalities, refunding issue authorized — form and terms. —
1. Any municipality which has revenue bonds issued pursuant to the provisions of sections 100.010 to 100.200 may issue refunding revenue bonds to provide funds to refund any or all of such revenue bonds, including payment of unpaid interest, premiums and other expenses connected therewith, whether the bonds to be refunded have or have not matured. The form of such refunding revenue bonds, and the terms under which such refunding revenue bonds may be issued, including the number of the years within which they are to be redeemed and their interest rate or rates, which interest rate or rates may be less than, the same, or greater than that of the revenue bonds being refunded, shall be specified by the ordinance, order, indenture or resolution authorizing the refunding bonds. Refunding under the provisions of this section may be effected by a private or public sale of the refunding revenue bonds, and the application of the proceeds to the purchase, redemption or payment of the revenue bonds to be refunded, or by an exchange of the refunding revenue bonds for the revenue bonds being refunded with the consent of the holder or holders of the revenue bonds being refunded. The refunding revenue bonds shall be paid solely from revenue received from the project or projects financed by the revenue bonds being refunded, and shall not be a general obligation of the municipality.
2. Any municipality proposing to issue refunding revenue bonds shall issue those bonds pursuant to the provisions of sections 100.010 to 100.200.
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(L. 1981 S.B. 250 §§ 1, 2, A.L. 1983 S.B. 316)
Effective 6-22-83
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.160 - Municipality to carry out plan on receipt of funds.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1961
100.160. Municipality to carry out plan on receipt of funds. —
When funds have been received by the municipality for the carrying out of the project, the municipality shall purchase, construct, extend or improve the facilities as provided by the plan.
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(L. 1961 p. 189 § 16)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.170 - Construction to be under contract — how let, notice.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1961
100.170. Construction to be under contract — how let, notice. —
Whenever the approved plan for the project calls for the construction, improvement or extension of facilities, the municipality shall enter into a contract for the purpose. All contracts shall be let on competitive bidding to the lowest and best bidder. Notice of the letting of the contracts shall be given in the manner provided by section 8.250.
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(L. 1961 p. 189 § 17)
(1967) This section is ordinarily applicable only to contracts whereby city itself assumes obligation or indebtedness, and a third class city is not required to let construction contracts for projects financed by industrial revenue bonds by competitive bidding to lowest and best bidder. Wring v. City of Jefferson (Mo.), 413 S.W.2d 292.
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.180 - Municipality's power to enter into loans, sales, leases or mortgages — terms — requirements.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 2003
100.180. Municipality's power to enter into loans, sales, leases or mortgages — terms — requirements. —
The municipality shall have the authority to enter into loan agreements, sell, lease, or mortgage to private persons, partnerships or corporations the facilities purchased, constructed or extended by the municipality for manufacturing and industrial development purposes. In the event that the facility has been financed by revenue bonds, the installments of charges or rents shall be sufficient to meet the interest and sinking fund requirements on the bonds. The loan agreement, installment sale agreement, lease, or other such document shall contain such other terms as are agreed upon between the municipality and the obligor, provided that such terms shall be consistent with the other provisions of sections 100.010 to 100.200.
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(L. 1961 p. 189 § 18, A.L. 1963 p. 125 § 71.847, A.L. 1983 S.B. 316, A.L. 2003 H.B. 289)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.190 - Property acquired may be sold.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 22 Jun 1983, see footnote
100.190. Property acquired may be sold. —
Any municipality may sell or otherwise dispose of the property, or buildings or plants acquired with the proceeds from the sale of general obligation bonds issued under sections 100.010 to 100.200, to private persons or corporations for warehousing, manufacturing or industrial development purposes upon approval by the governing body. The terms and method of the sale or other disposal shall be established by the governing body so as to reasonably protect and promote the economic well-being and the industrial development of the municipality.
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(L. 1961 p. 189 § 19, A.L. 1963 p. 125 § 71.850, A.L. 1976 H.B. 1359, A.L. 1983 S.B. 316)
Effective 6-22-83
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.200 - Sales of industrial development property acquired with revenue bonds.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 22 Jun 1983, see footnote
100.200. Sales of industrial development property acquired with revenue bonds. —
Any municipality may sell or otherwise dispose of the property or buildings or plants, acquired with the proceeds from the sale of revenue bonds issued under sections 100.100 to 100.190, to private persons or corporations for manufacturing or industrial development purposes. The terms and method of the sale or other disposal shall be established so as to reasonably protect and promote the economic well-being and the industrial development of the municipality, but in no case shall the property or buildings or plants be sold for an amount less than one which shall be sufficient to retire all outstanding revenue bonds which were sold for the purchase or construction of the property or buildings or plants.
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(L. 1967 p. 159 § 71.855, A.L. 1983 S.B. 316)
Effective 6-22-83
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.250 - Title of act.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1994
100.250. Title of act. —
Sections 100.250 to 100.297 shall be known and may be cited as the "Missouri Development Finance Board Act".
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(L. 1982 S.B. 681, A.L. 1985 H.B. 416, A.L. 1989 H.B. 378, A.L. 1994 H.B. 1248 & 1048)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.263 - Infrastructure development fund, created, purpose — lapse into general revenue, prohibited.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1989
100.263. Infrastructure development fund, created, purpose — lapse into general revenue, prohibited. —
An "Infrastructure Development Fund" shall be established from which moneys shall be used to make low-interest or interest-free loans, loan guarantees, or grants to local political subdivisions and to state agencies. The fund may receive funds from the federal government for infrastructure development purposes, but other public or private funds may be received by the board for deposit in the fund. The general assembly may appropriate state moneys to the fund. The infrastructure development fund shall be administered by the board under the provisions of sections 100.250 to 100.297. Any moneys remaining in the fund at the end of any fiscal year shall not revert to the general revenue fund.
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(L. 1989 H.B. 378)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.273 - Development finance board employees are state employees eligible for state retirement — not eligible for state health insurance plan unless requested by board — no purchase of creditable service, exception.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 2011
100.273. Development finance board employees are state employees eligible for state retirement — not eligible for state health insurance plan unless requested by board — no purchase of creditable service, exception. —
1. Any person employed by the Missouri development finance board on or after September 1, 2011, in a full-time position shall be both a state employee and a member of the Missouri state employees' retirement system, except that such state employee shall not have coverage under the Missouri consolidated health care plan, unless such coverage is requested by the Missouri development finance board and approved by the board of trustees of the Missouri consolidated health care plan.
2. Employees described in subsection 1 of this section may not purchase and receive creditable or credited service in the Missouri state employees' retirement system for prior full-time service with the Missouri development finance board except as follows: such employees shall be permitted to purchase all or a portion of their creditable or credited service in the Missouri state employees' retirement system up to the actual years of prior full-time service with the Missouri development finance board. The cost of the full amount of such creditable or credited service allowed shall be an amount determined to equal the actuarial accrued liability at the time of the purchase to the extent the system's actuarial accrued liability was funded as of the most recent actuarial valuation. If an employee pays less than the full amount so determined, the creditable or credited service granted shall be prorated accordingly. Employees may purchase and receive such creditable or credited service at any time on or after September 1, 2011, but before applying for retirement, and may do so notwithstanding any vesting requirement to the contrary. Any employee who purchases such creditable or credited service and subsequently terminates employment prior to becoming vested in the system may, upon proper application, receive a refund equal to the purchase amount.
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(L. 2011 H.B. 282)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.277 - Employment and business opportunities required to be provided, to whom.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 2004
100.277. Employment and business opportunities required to be provided, to whom. —
Funds expended for projects authorized in sections 100.255 to 100.293 shall provide appropriate employment and business opportunities for participation by minority, women, and disadvantaged business enterprises in compliance with all state laws, rules, and regulations.
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(L. 2004 S.B. 1155)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.281 - Project plan, approval procedure — board to review and grant loan, when — borrowing power — sale of bonds.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 2006, 2 histories
100.281. Project plan, approval procedure — board to review and grant loan, when — borrowing power — sale of bonds. —
1. A request for a loan from the development and reserve fund, the infrastructure development fund, the export finance fund, or the jobs now fund to fund export trade activities or to carry out a project shall be in the form of an application for the project to the board, which application shall be in such form as the board may specify. After reviewing the application and such other information as the board may require, the board may grant all or a part of the loan request, provided the board determines that:
(1) The project will be a benefit to the economy or infrastructure of the state;
(2) The project will generate sufficient revenues or the borrower will otherwise have sufficient revenues available to enable the borrower to repay the loan to the development and reserve fund, the infrastructure development fund, the export finance fund, or the jobs now fund, along with any interest to be charged; and
(3) In the case of an infrastructure facility project, the loan will not exceed ten million dollars.
2. Notwithstanding any other provision of law to the contrary, all development agencies, as defined in section 100.255, shall have the power to borrow funds from the board for any project, to contract with the board, and to furnish a security interest in any of their revenues or properties to the board to secure a loan from the board and to issue notes in evidence thereof upon such terms as such development agencies shall determine.
3. When the board issues bonds to provide loans for more than one infrastructure project, the board shall make a reasonable effort to sell the bonds to a purchaser that represents a group consisting of more than one underwriter.
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(L. 1985 H.B. 416, A.L. 1986 S.B. 664 merged with S.B. 731 merged with H.B. 989 & 1390, A.L. 1989 H.B. 378, A.L. 1990 H.B. 1564, A.L. 2004 S.B. 1155, A.L. 2006 S.B. 718)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.282 - Limitations on approval of loans.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 2006
100.282. Limitations on approval of loans. —
The Missouri development finance board, the Missouri health and educational
*
facilities authority, the Missouri higher education loan authority, the Missouri housing development commission, and the environmental improvement and energy resources authority shall only approve loan requests from the state, any agency or department of the state, or any state educational institution if the borrower's means of repayment is readily ascertainable and reliable. With the exception of annual appropriation debt for state-owned property, the entities listed in this section shall not approve such requests if the means of repayment is contingent upon state funding that has not been granted, unless the project has been approved by concurrent resolution of the general assembly, or similar legislative directive or approval.
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(L. 2006 S.B. 718)
*Word "education" appears in original rolls.
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.287 - Default procedure — subrogation to rights of lender upon payment from fund, amount.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1986
100.287. Default procedure — subrogation to rights of lender upon payment from fund, amount. —
1. The development and reserve fund shall be used to prevent a default in payment of principal or interest or to defray losses which may be incurred in connection with bonds, notes or loans secured by the development and reserve fund in accordance with the terms and provisions of the resolution or trust indenture of the board authorizing such bonds, notes or loans.
2. Upon certification by a participating lender that a loan secured by the development and reserve fund is in default and noncollectible, and that the property which secured the loan has been liquidated and applied against the debt, and after a review by the board and its determination of the same, the board shall distribute, from funds available in the development and reserve fund, an amount not to exceed ninety percent of the balance remaining to be paid by the borrower to the participating lender. Upon payment to a participating lender to repay any loan, the board shall become subrogated to the extent of such payment to all rights which the participating lender had against the borrower.
3. A loan or issue of bonds or notes secured by the development and reserve fund shall in no case constitute or be construed as an obligation or an indebtedness of this state or of the board, and neither the state nor the board shall be liable to repay any such loan, bonds or notes upon any condition.
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(L. 1985 H.B. 416, A.L. 1986 S.B. 731)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.291 - Guarantees issued by board, when — application, fee — information required.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1985
100.291. Guarantees issued by board, when — application, fee — information required. —
1. The board may issue guarantees using moneys in the guarantee fund for bonds or notes issued by the board or by development agencies when the board makes the following findings:
(1) That the owners and lessees, if any, of the projects to be financed are found to be financially responsible, and that sufficient income may reasonably be expected to be derived from the projects to amortize the interest and principal amount of the bonds or notes;
(2) That the projects will benefit the economy of this state.
2. The board shall evaluate the financial condition and business history of project owners and lessees, and may require the attachment to each application for guarantee under sections 100.250 to 100.297 a financial report and evaluation by an independent certified public accounting firm, in addition to such examination and evaluation as the board may make, in determining whether the owner or lessee meets prescribed minimum standards and qualifications before entering into any guarantee under sections 100.250 to 100.297.
3. Every development agency requesting a bond or note guarantee under sections 100.250 to 100.297 shall submit to the board supporting documents, instruments, and other evidence showing the circumstances surrounding the issuance of the bonds or notes, and an initial guarantee fee and a premium payment as required by the board, to the guarantee fund. Such fees and payments may be collected by the development agency from the owners or lessees of the projects involved.
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(L. 1985 H.B. 416)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.292 - Guarantee agreement provisions.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1985
100.292. Guarantee agreement provisions. —
1. Guarantee agreements for bonds or notes entered into by the board pursuant to the provisions of sections 100.250 to 100.297 shall provide that:
(1) The board guarantees, and is hereby required, to use the moneys in the guarantee fund to meet amortization payments as guaranteed under the provisions of sections 100.250 to 100.297, as the same become due, in the event, and to the extent, the board or the development agency issuing the bonds or notes is unable to meet such payments in accordance with the terms of the bond or note indenture when called on to do so; and
(2) The guarantee shall not be a general obligation of the state of Missouri, but shall be a special obligation, and in no event shall the guarantee be deemed an indebtedness of the state of Missouri, or of any political subdivision thereof, and shall not be deemed to be an indebtedness within the meaning of any constitutional or statutory limitation upon the incurring of indebtedness.
2. Whenever the board, acting under the terms of any guarantee agreement, deems it necessary to assume the obligation of maintenance of any project the amortization payments of which have been guaranteed by the board, the board may use funds available in the guarantee fund to pay insurance and maintenance costs required for the preservation of the project and to protect such fund from loss, or to minimize loss, in such manner as deemed necessary by the board.
3. In addition to the provisions required by this section the guarantee agreement shall include such other additional provisions, restrictions, and conditions as the board shall determine to be necessary, including, but not limited to, a detailing of the remedies that must be exhausted by the bondholders or noteholders prior to any enforcement of the guarantee agreement and the subrogation or other rights of the board with reference to the project and its operation in the event the board makes payment pursuant to the applicable guarantee agreement.
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(L. 1985 H.B. 416)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.293 - Citation — jobs now recommendation committee created, membership, duties — applications — preference given to certain projects — requests granted, determinations required.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 2013, 2 histories
100.293. Citation — jobs now recommendation committee created, membership, duties — applications — preference given to certain projects — requests granted, determinations required. —
1. This section, section 100.277, and sections 135.950 to 135.973 shall be known and may be cited as the "Jobs Now Act".
2. There shall be created a "Jobs Now Recommendation Committee", comprised of representatives of the department of economic development, the department of agriculture, the department of natural resources, and the department of transportation. The committee shall establish application materials and procedures for development agencies to apply to the board for grants or low-interest or interest-free loans for the purpose of funding jobs now projects.
3. Applications shall be submitted simultaneously to the committee and the board. The committee shall review the applications and prepare and submit analyses and recommendations to the board for a determination as to approval or denial of grants or loans from the jobs now fund.
4. In reviewing applications, the board shall give preference to redevelopment projects that protect natural resources or rehabilitate existing dilapidated or inadequate infrastructure in areas defined under section 135.530.
5. After reviewing applications and such other information as the board may require, the board may grant all or a part of a grant or loan request, provided the board determines:
(1) The jobs now project:
(a) Will not happen without the grant or loan from the board; or
(b) Will have a significant local economic impact; or
(c) Demonstrates high levels of job creation;
(2) In the case of a low-interest or interest-free loan, the jobs now project will generate sufficient revenues or the borrower will otherwise have sufficient revenues available to enable the borrower to repay the loan to the jobs now fund, along with any interest to be charged; and
(3) No loan or grant may exceed two million dollars.
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(L. 2004 S.B. 1155, A.L. 2013 H.B. 196)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.300 - Short title.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.300. Short title. —
Sections of this law shall be known and may be cited as "The Planned Industrial Expansion Law".
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(L. 1967 p. 172 § 1)
(1975) Held constitutional as not being special legislation because of limit as to cities over 400,000. State ex rel. Atkinson v. Planned Industrial Expansion Authority (Mo.), 517 S.W.2d 36.
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.320 - Planned industrial expansion authority created, powers exercised, when.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.320. Planned industrial expansion authority created, powers exercised, when. —
There is hereby created in each city, as herein defined, a public body corporate and politic to be known as "The Planned Industrial Expansion Authority" of the city; provided, however:
(1) That such authority shall not transact any business or exercise its powers hereunder until and unless the governing body shall approve, by resolution or ordinance, the exercising in such city of the powers, functions and duties of an authority under this law;
(2) That the governing body of a city shall not adopt a resolution or ordinance pursuant to subdivision (1) above unless it finds:
(a) That one or more blighted, insanitary or undeveloped industrial areas exist in such community; and
(b) That the development of such area or areas is necessary in the interest of the public health, safety, morals or welfare of the residents of such city.
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(L. 1967 p. 172 § 3)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.330 - Commissioners, number reduced, appointment, term, vacancies.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1980
100.330. Commissioners, number reduced, appointment, term, vacancies. —
Subsequent to August 13, 1980, the number of commissioners shall be fifteen. Provided, however, by the process of attrition the number of commissioners shall be reduced from twenty-five to fifteen by the expiration of the terms of currently serving commissioners and nonreplacement of any vacancies. Commissioners shall be appointed for a term of four years each. All commissioners shall be appointed by the mayor or chief executive officer of the city, shall be taxpayers of the city, and shall have resided in the city for five years immediately prior to their appointment. All vacancies shall be filled by the mayor or chief executive officer of the city for the unexpired term, subsequent to the time the number of commissioners is reduced to fifteen by attrition.
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(L. 1967 p. 172 § 4, A.L. 1980 H.B. 1477)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.331 - Commissioners, number reduced, appointment, terms, qualifications, vacancies — consolidation plan authorized (St. Louis City).

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 2001
100.331. Commissioners, number reduced, appointment, terms, qualifications, vacancies — consolidation plan authorized (St. Louis City). —
1. Notwithstanding the provisions of section 100.330 or any other provision of law to the contrary, beginning August 28, 2000, the number of commissioners in any city not within a county shall be five; provided that, by the process of attrition the number of commissioners shall be reduced from fifteen to five by the expiration of the terms of currently serving commissioners and nonreplacement of any vacancies. Commissioners shall be appointed for a term of four years each. All commissioners shall be appointed by the mayor of any such city, shall be taxpayers of the city, and shall have resided in the city for five years immediately prior to their appointment. All vacancies shall be filled by the mayor of the city for the unexpired term, subsequent to the time the number of commissioners is reduced to five by attrition.
2. At any time, the governing body of a city not within a county may adopt a plan of consolidation to combine the planned industrial expansion authority of such city with the land clearance for redevelopment authority of such city.
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(L. 2000 H.B. 1238 merged with S.B. 894, A.L. 2001 H.B. 596)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.340 - Commission, quorum, officers, legal services, how obtained.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.340. Commission, quorum, officers, legal services, how obtained. —
1. The powers hereunder vested in each authority shall be exercised by the board of commissioners thereof. A majority of the commissioners shall constitute a quorum of such board for the purpose of conducting business and exercising the powers of the authority and for all other purposes. Action may be taken by the board upon a vote of a majority of the commissioners present, unless in any case the bylaws of the authority shall require a larger number. Meetings of the board of an authority may be held anywhere within the city.
2. The commissioners of an authority shall elect a chairman and vice chairman from among the commissioners; however, the first chairman shall be designated by the mayor. An authority may employ an executive director, technical experts and such other officers, agents and employees, permanent and temporary, as it may require, and shall determine their qualifications, duties and compensation. For such legal services as it may require, an authority may call upon the chief law officer of the communities within its area of operation or may employ its own counsel and legal staff. An authority may delegate to one or more of its agents or employees such powers or duties as it may deem proper.
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(L. 1967 p. 172 § 5)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.350 - Commissioner, expenses — certificate of appointment.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.350. Commissioner, expenses — certificate of appointment. —
A commissioner of an authority shall receive no compensation for his services, but shall be entitled to the necessary expenses, including traveling expenses, incurred in the discharge of his duties. Each commissioner shall hold office until his successor has been appointed and has qualified. A certificate of the appointment or reappointment of any commissioner shall be filed with the municipal or county clerk, as the case may be, and such certificate shall be conclusive evidence of the due and proper appointment of such commissioner.
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(L. 1967 p. 172 § 6)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.360 - Commissioner, removal for cause, hearing.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.360. Commissioner, removal for cause, hearing. —
For inefficiency or neglect of duty or misconduct in office, a commissioner of an authority may be removed by the mayor, but a commissioner shall be removed only after a hearing and after he shall have been given a copy of the charges at least ten days prior to such hearing and have had an opportunity to be heard in person or by counsel. In the event of the removal of any commissioner, a record of the proceedings, together with the charges and findings thereon, shall be filed in the office of the city clerk.
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(L. 1967 p. 172 § 7)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.370 - Commissioners or employees of authority, voluntary interest in project prohibited — disclosure of involuntary interest required and participation in action of authority forbidden — violation is misconduct, office forfeited.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.370. Commissioners or employees of authority, voluntary interest in project prohibited — disclosure of involuntary interest required and participation in action of authority forbidden — violation is misconduct, office forfeited. —
1. No commissioner or employee of an authority shall voluntarily acquire any interest, direct or indirect, in any project or in any property included or planned by the authority to be included in any such project, or in any contract or proposed contract in connection with any such project.
2. Where the acquisition is not voluntary such commissioner or employee shall immediately disclose such interest in writing to the authority and such disclosure shall be entered upon the minutes of the authority.
3. A commissioner or employee who owns or controls any interest, direct or indirect, in such property shall not participate in any action by the authority affecting the property. If any commissioner or employee of the authority owned or controlled within the preceding two years any interest direct or indirect, in any property included or planned by the authority to be included in any project, he immediately shall disclose such interest in writing to the authority and such disclosure shall be entered upon the minutes of the authority. Upon such disclosure such commissioner or employee shall not participate in any action by the authority affecting such property.
4. Any violation of the provisions of sections of this law shall constitute misconduct in office; and the commissioner shall forfeit forthwith his office.
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(L. 1967 p. 172 § 8)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.380 - Adoption of resolution or ordinance, effect of — certified copy admissible as evidence.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.380. Adoption of resolution or ordinance, effect of — certified copy admissible as evidence. —
1. In any suit, action or proceeding involving the validity or enforcement of or relating to any contract of an authority or other public body, such authority or other public body shall be conclusively deemed to have become established and authorized to transact business and exercise its powers hereunder upon proof of the adoption of the appropriate resolution or ordinance prescribed in section 100.320 above. Each such resolution or ordinance shall be deemed sufficient if it authorized the exercise of powers hereunder by the authority or other public body and finds in substantially the terms provided in subdivision (2) of section 100.320, no further detail being necessary, that the conditions therein enumerated exist.
2. A copy of such resolution or ordinance duly certified by the municipal or county clerk, as the case may be, shall be admissible in evidence in any suit, action or proceeding.
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(L. 1967 p. 172 § 9)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.420 - Authority may exercise power of eminent domain.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 2006
100.420. Authority may exercise power of eminent domain. —
1. An authority whose board members are appointed by one or more elected officials shall have the right to acquire by the exercise of the power of eminent domain any real property which it may deem necessary for a project or for its purposes under this law after the adoption by it of a resolution declaring that the acquisition of the real property described therein is necessary for such purposes. Any authority may exercise the power of eminent domain in the manner and under the procedure provided for corporations in chapter 523 and acts amendatory thereof or supplementary thereto.
2. Property already devoted to a public use may be acquired in like manner; provided that no real property belonging to the municipality, the county or the state may be acquired without its consent.
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(L. 1967 p. 172 § 13, A.L. 2006 H.B. 1944)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.430 - Bonds, issuance by authority.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.430. Bonds, issuance by authority. —
1. An authority shall have power to issue bonds from time to time in its discretion for any of its corporate purposes including the payment of principal and interest upon any advances for surveys and plans for projects.
2. An authority shall also have power to issue refunding bonds for the purpose of paying or retiring or in exchange for bonds previously issued by it.
3. An authority may issue such types of bonds as it may determine, including, without limiting the generality of the foregoing, bonds on which the principal and interest are payable:
(1) Exclusively from the income, proceeds, and revenues of the project financed with the proceeds of such bonds; or
(2) Exclusively from the income, proceeds, and revenues of any of its projects whether or not they are financed in whole or in part with the proceeds of such bonds.
4. Provided, that any such bonds may be additionally secured by a pledge of any loan, grant or contributions, or parts thereof, from the federal government or other source, or a mortgage of any project or projects of the authority.
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(L. 1967 p. 172 § 14)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.440 - Bonds, how issued, authorized and sold.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1982
100.440. Bonds, how issued, authorized and sold. —
1. Bonds of an authority shall be authorized by its resolution and may be issued in one or more series and shall bear such date or dates, be payable upon demand or mature at such time or times, bear interest at such rate or rates, not in excess of the maximum rate, if any, applicable to general and business corporations, be in such denomination or denominations, be in such form either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, be payable in such medium of payment, at such place or places, and be subject to such terms of redemption, with or without premium, as such resolution, its trust indenture or mortgage may provide.
2. The bonds shall be sold at not less than ninety-five percent of par at public or, if the authority determines it is in the best interest of the authority, at private sale, notwithstanding the provisions of section 108.170. The reason or reasons why private sale is in the best interest of the authority shall be set forth in the order or resolution authorizing the private sale; provided, however, that any issue in excess of ten million dollars shall be sold only at public sale; provided, further, that notice of such public or private sale shall be published in a newspaper having a general circulation in the area of operation and such medium of publication as the authority may deem at least once and not later than ten days prior to such public or private sale. The decision of the authority shall be conclusive.
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(L. 1967 p. 172 § 15, A.L. 1974 2d Ex. Sess. S.B. 1, A.L. 1976 H.B. 1359, A.L. 1980 H.B. 1477, A.L. 1982 H.B. 1411 & 1587)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.445 - Allowable rates of interest.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1980
100.445. Allowable rates of interest. —
If the interest rates allowed under the provisions of this act
*
are greater than the interest rates allowed under the provisions of senate bill no. 554
**
of the second regular session of the eightieth general assembly, then the interest rates allowed under this act
*
shall prevail over the interest rates set in senate bill no. 554
**
.
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(L. 1980 H.B. 1477 § 2)
*"This act" (H.B. 1477, 1980) contained this section and sections 100.310, 100.330, 100.390, 100.400, 100.410 and 100.440.
**Senate Bill 554 of the second regular session of the 80th General Assembly, 1980, enacted sections 108.450, 108.455, 108.460, 108.465, 108.470.
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.450 - Bonds, no personal liability on, not a debt of issuing subdivision or state — interest on bonds exempt from income tax.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.450. Bonds, no personal liability on, not a debt of issuing subdivision or state — interest on bonds exempt from income tax. —
1. Neither the commissioners of any authority nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. Bonds issued under this section by an authority, created by or pursuant to sections
*
shall not be a debt of the municipality, the county or the state and neither the municipality, the county or the state shall be liable thereon nor in any event shall such bonds be payable out of any funds or properties other than those acquired for the purposes of this law and such bonds shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
2. Bonds of an authority are declared to be issued for an essential public and governmental purpose and to be public instrumentalities, and interest thereon and income therefrom shall be exempt from income taxes.
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(L. 1967 p. 172 § 16)
*No section numbers appear in original rolls.
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.460 - Signatures on bonds, validity of — bonds negotiable — conclusive presumption that bond was issued for stated purpose.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.460. Signatures on bonds, validity of — bonds negotiable — conclusive presumption that bond was issued for stated purpose. —
1. In case any of the commissioners or officers of the authority whose signatures appear on any bonds or coupons shall cease to be such commissioners or officers before the delivery of such bonds, such signatures shall, nevertheless, be valid and sufficient for all purposes, the same as if such commissioners or officers had remained in office until such delivery. Any provision of any law to the contrary notwithstanding, any bonds issued pursuant to this law shall be fully negotiable.
2. In any suit, action or proceeding involving the validity or enforceability of any bond of any authority or the security therefor, any such bond reciting in substance that it has been issued by the authority to aid in financing a project, as herein defined, shall be conclusively deemed to have been issued for such purpose and such project shall be conclusively deemed to have been planned, located and carried out in accordance with the purposes and provisions of this law.
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(L. 1967 p. 172 § 17)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.480 - Powers of obligee granted by authority.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.480. Powers of obligee granted by authority. —
Any authority shall have power by its resolution, trust indenture, mortgage, lease or other contract to confer upon an obligee holding or representing a specified amount in bonds, the right, in addition to all rights that may otherwise be conferred, upon the happening of an event of default as defined in such resolution or instrument, by suit, action or proceeding in any court of competent jurisdiction:
(1) To cause possession of any project or any part thereof, title to which is in the authority, to be surrendered to any such obligee;
(2) To obtain the appointment of a receiver of any project of said authority or any part thereof, title to which is in the authority, and of the rents and profits therefrom. If such receiver be appointed, he may enter and take possession of, carry out, operate and maintain such project or any part thereof and collect and receive all fees, rents, revenues, or other charges thereafter arising therefrom, and shall keep such moneys in a separate account or accounts and apply the same in accordance with the obligations of said authority as the court shall direct; and
(3) To require said authority and the commissioners, officers, agents and employees thereof to account as if it and they were the trustees of an express trust.
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(L. 1967 p. 172 § 19)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.490 - Obligee, rights of, exception.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.490. Obligee, rights of, exception. —
An obligee of an authority shall have the right in addition to all other rights which may be conferred on such obligee, subject only to any contractual restrictions binding upon such obligee:
(1) By mandamus suit, action or proceeding at law or in equity, to compel said authority and the commissioners, officers, agents or employees thereof to perform each and every term, provision and covenant contained in any contract of said authority with or for the benefit of such obligee, and to require the carrying out of any or all such covenants and agreements of said authority and the fulfillment of all duties imposed upon said authority by this law; and
(2) By suit, action or proceeding in equity, to enjoin any acts or things which may be unlawful, or the violation of any of the rights of such obligee of said authority.
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(L. 1967 p. 172 § 20)
2023 Missouri Revised Statutes › Title VII - Cities, Towns and Villages › Chapter 100 - Industrial Development › Section 100.500 - Bonds or other obligations legal investments for enumerated purposes, when.

Title VII CITIES, TOWNS AND VILLAGES
Chapter 100
• Effective - 28 Aug 1967
100.500. Bonds or other obligations legal investments for enumerated purposes, when. —
All public officers, municipal corporations, political subdivisions and public bodies, all banks, trust companies, bankers, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on insurance business, and all executors, administrators, curators, trustees, and other fiduciaries may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any bond or other obligations issued by an authority pursuant to this law or commission, or agency or any other public body in the United States for industrial purposes, when such bonds and other obligations are secured by a contract for financial assistance to be paid by the federal government or any agency thereof and such bonds and other obligations shall be authorized security for all public deposits. It is the purpose of this section to authorize any persons, political subdivisions and officers, public or private, to use any funds owned or controlled by them for the purchase of any such bonds or other obligations. However, nothing contained in this section with regard to legal investments shall be construed as relieving any person of any duty of exercising reasonable care in selecting securities.
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(L. 1967 p. 172 § 21)