Missouri Revised Statutes
Chapter 100 - Industrial Development
Section 100.265 - Missouri development finance board created — members, qualifications, appointment, terms — meetings — quorum — expenses.

Effective - 28 Aug 2006
100.265. Missouri development finance board created — members, qualifications, appointment, terms — meetings — quorum — expenses. — 1. There is hereby created within the department of economic development the "Missouri Development Finance Board", which shall constitute a body corporate and politic and shall consist of twelve members, including the lieutenant governor, the director of the department of economic development, the director of the department of natural resources, and the director of the department of agriculture. No more than five members appointed by the governor to the board shall be of the same political party. Except for the lieutenant governor, the director of the department of economic development, the director of the department of natural resources, and the director of the department of agriculture, all members shall be appointed by the governor by and with the advice and consent of the senate, and shall serve for terms of four years. The persons serving as members of the Missouri economic development, export and infrastructure board on August 28, 1994, shall become members of the Missouri development finance board for terms to expire at the same time their terms would have expired if they had remained members of the Missouri economic development, export and infrastructure board. The Missouri development finance board shall replace the Missouri economic development, export and infrastructure board. All moneys, property, any other assets or liabilities of the Missouri economic development, export and infrastructure board on August 28, 1994, shall be transferred to the Missouri development finance board. All powers, duties and functions performed by the Missouri economic development, export and infrastructure board pursuant to sections 100.250 to 100.297 shall be transferred to the Missouri development finance board.
2. Each member of the board appointed by the governor shall have resided in this state for at least five years prior to appointment. Except for the lieutenant governor, director of the department of economic development, the director of the department of natural resources, and the director of the department of agriculture, no person may be appointed to the board who is an elected officer or employee of the state, or any agency, board, commission, or authority established by the state.
3. The governor shall designate one of the members of the board to serve as chairman. The board shall meet at such times and places it shall designate. Seven members shall constitute a quorum. No vacancy in the membership shall impair the right of a quorum of the members to exercise all of the rights and powers and to perform all of the duties of the board.
4. Members of the board shall serve without compensation but shall be reimbursed for their reasonable and necessary expenses incurred in the performance of their duties.
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(L. 1982 S.B. 681 § 4, A.L. 1985 H.B. 416, A.L. 1989 H.B. 378, A.L. 1992 S.B. 676 adopted by referendum (Proposition C) November 3, 1992, A.L. 1993 H.B. 566, A.L. 1994 H.B. 1248 & 1048, A.L. 2006 S.B. 718)
CROSS REFERENCE:
Annual report for tax credits, 320.092

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title VII - Cities, Towns and Villages

Chapter 100 - Industrial Development

Section 100.010 - Definitions.

Section 100.020 - Municipality may carry out industrial development projects.

Section 100.030 - Acceptance of federal grants or gifts.

Section 100.040 - Plans for industrial development to be made.

Section 100.050 - Approval of plan by governing body of municipality — information required — additional information required, when — payments in lieu of taxes, applied how — reimbursement, when.

Section 100.059 - Notice of proposed project for industrial development, when, contents — limitation on indebtedness, inclusions — applicability, limitation.

Section 100.090 - General obligation bonds authorized.

Section 100.100 - Revenue bonds authorized, how paid.

Section 100.105 - Municipality to file annual report on bond issuances with department, content.

Section 100.120 - Time for election — subsequent elections.

Section 100.130 - Municipality to fix terms and form of revenue bonds.

Section 100.140 - Sinking fund for revenue bonds.

Section 100.150 - Revenue bonds payable from revenues only — statement on bond.

Section 100.155 - Revenue bonds, municipalities, refunding issue authorized — form and terms.

Section 100.160 - Municipality to carry out plan on receipt of funds.

Section 100.170 - Construction to be under contract — how let, notice.

Section 100.180 - Municipality's power to enter into loans, sales, leases or mortgages — terms — requirements.

Section 100.190 - Property acquired may be sold.

Section 100.200 - Sales of industrial development property acquired with revenue bonds.

Section 100.250 - Title of act.

Section 100.255 - Definitions.

Section 100.260 - Funds established — administration, investment — no transfer to general revenue, when — increase of certain revenue calculated and allocated to Jobs Now fund.

Section 100.263 - Infrastructure development fund, created, purpose — lapse into general revenue, prohibited.

Section 100.265 - Missouri development finance board created — members, qualifications, appointment, terms — meetings — quorum — expenses.

Section 100.270 - Board's powers and duties — rules, authority to promulgate.

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.

Section 100.275 - Bonds and notes issued — approved as investment, who may invest — tax exemptions, exceptions — power to contract with development agency.

Section 100.277 - Employment and business opportunities required to be provided, to whom.

Section 100.281 - Project plan, approval procedure — board to review and grant loan, when — borrowing power — sale of bonds.

Section 100.282 - Limitations on approval of loans.

Section 100.286 - Loans secured by certain funds — standards — information required — review and certification by participating lender — board approval — fee, tax credit, limitation.

Section 100.287 - Default procedure — subrogation to rights of lender upon payment from fund, amount.

Section 100.291 - Guarantees issued by board, when — application, fee — information required.

Section 100.292 - Guarantee agreement provisions.

Section 100.293 - Citation — jobs now recommendation committee created, membership, duties — applications — preference given to certain projects — requests granted, determinations required.

Section 100.296 - Application of provisions of other sections — state and local records laws — meetings of governmental bodies — conflict of interest or lobbying — prohibited loans — notifications of certain campaign contributions.

Section 100.297 - Tax credit for owner of revenue bonds or notes, purpose, when, amount, limitation.

Section 100.300 - Short title.

Section 100.310 - Definitions.

Section 100.320 - Planned industrial expansion authority created, powers exercised, when.

Section 100.330 - Commissioners, number reduced, appointment, term, vacancies.

Section 100.331 - Commissioners, number reduced, appointment, terms, qualifications, vacancies — consolidation plan authorized (St. Louis City).

Section 100.340 - Commission, quorum, officers, legal services, how obtained.

Section 100.350 - Commissioner, expenses — certificate of appointment.

Section 100.360 - Commissioner, removal for cause, hearing.

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.

Section 100.380 - Adoption of resolution or ordinance, effect of — certified copy admissible as evidence.

Section 100.390 - Authority to be a body corporate and politic, powers and duties of authority.

Section 100.400 - Preparation and approval of plans, regulations governing.

Section 100.410 - Property in a project, how disposed of.

Section 100.420 - Authority may exercise power of eminent domain.

Section 100.430 - Bonds, issuance by authority.

Section 100.440 - Bonds, how issued, authorized and sold.

Section 100.445 - Allowable rates of interest.

Section 100.450 - Bonds, no personal liability on, not a debt of issuing subdivision or state — interest on bonds exempt from income tax.

Section 100.460 - Signatures on bonds, validity of — bonds negotiable — conclusive presumption that bond was issued for stated purpose.

Section 100.470 - Payment of bonds secured, how.

Section 100.480 - Powers of obligee granted by authority.

Section 100.490 - Obligee, rights of, exception.

Section 100.500 - Bonds or other obligations legal investments for enumerated purposes, when.

Section 100.510 - Contracts with federal government, provisions for conveyance of project and land to federal government — authorized, reconveyance when.

Section 100.520 - Execution or judicial process, property and funds of authority exempt from, exceptions.

Section 100.530 - Public bodies may assist a project, how.

Section 100.540 - Sales by public body to authority, how made.

Section 100.550 - Cities may levy taxes or sell bonds to finance grants to an authority.

Section 100.560 - Two or more authorities may cooperate in a project.

Section 100.570 - Ad valorem tax benefits available, when.

Section 100.580 - Annual report of authority, contents — satisfactory progress of projects, procedure to determine.

Section 100.590 - Authority may assume projects of constitutional charter cities, when.

Section 100.600 - Any municipality authorized to prepare a master plan for physical development of community.

Section 100.610 - Law to be liberally construed.

Section 100.620 - Powers conferred in this law to be supplemental to existing powers.

Section 100.700 - Title.

Section 100.710 - Definitions.

Section 100.720 - Additional powers of Missouri development finance board — certificates, state credit for.

Section 100.730 - Establishment of procedures to determine eligible industries — authority to request information.

Section 100.740 - Financing agreement, authority to enter into.

Section 100.750 - Financing agreement, contents.

Section 100.760 - Credit agreement, conditions.

Section 100.770 - Factors considered in awarding credit.

Section 100.780 - Board authority to determine projects, assessments, credits and refunds, credit and assessment time limit.

Section 100.790 - Agreement contents.

Section 100.800 - Noncompliance by eligible industry, determination, penalty.

Section 100.810 - Evaluation of program.

Section 100.820 - Program costs, how paid, assessments.

Section 100.830 - Special fund, purposes — certification by employer.

Section 100.840 - Board, powers to borrow money — issue and sell certificates — sale or exchange of refunding certificates — certificates not indebtedness of state.

Section 100.850 - Assessments remittal, job development assessment fee — company records available to board, when — when remitted assessment ceases — tax credit amount, cap, claiming credit — refunds.