Effective - 28 Aug 1996
100.720. Additional powers of Missouri development finance board — certificates, state credit for. — 1. The Missouri development finance board shall have, in addition to the powers provided to it in sections 100.250 to 100.297, and with the approval of the department, all the powers necessary to carry out and effectuate the purposes and provisions of sections 100.700 to 100.850, including, but not limited to, the power to:
(1) Provide and finance economic development projects, pursuant to the provisions of sections 100.700 to 100.850, and cooperate with eligible industries in order to promote, foster and support economic development within the state;
(2) Conduct hearings and inquiries, in the manner and by the methods as it deems desirable, for the purpose of gathering information with respect to eligible industries and economic development projects, and for the purpose of making any determinations necessary or desirable in the furtherance of sections 100.700 to 100.850; and
(3) Negotiate the terms of, including the amount of project costs, and enter into financing agreements with eligible industries, and in connection therewith to acquire, convey, sell, mortgage, finance or otherwise dispose of any property, real or personal, loan bond proceeds, and permit the use of assessments, in connection with an economic development project, and to pay, or cause to be paid, in accordance with the provisions of a financing agreement, the program costs of an economic development project from any funds available therefor.
2. Certificates issued by the board pursuant to the provisions of sections 100.700 to 100.850 shall not constitute an indebtedness or liability of the state of Missouri within the meaning of any state constitutional provision or statutory limitation, shall not constitute a pledge of the faith and credit of the state of Missouri, shall not be guaranteed by the credit of the state, and unless approved by a concurrent resolution of the general assembly, no certificate in default shall be paid by the state of Missouri.
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(L. 1996 H.B. 1237 § 9)
Structure 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 100.090 - 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 100.190 - 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 100.270 - Board's powers and duties — rules, authority to promulgate.
Section 100.277 - Employment and business opportunities required to be provided, to whom.
Section 100.282 - Limitations on approval of loans.
Section 100.291 - Guarantees issued by board, when — application, fee — information required.
Section 100.292 - Guarantee agreement provisions.
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 100.340 - Commission, quorum, officers, legal services, how obtained.
Section 100.350 - Commissioner, expenses — certificate of appointment.
Section 100.360 - Commissioner, removal for cause, hearing.
Section 100.390 - 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 100.470 - 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 100.530 - 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 100.590 - Authority may assume projects of constitutional charter cities, when.
Section 100.610 - Law to be liberally construed.
Section 100.620 - Powers conferred in this law to be supplemental to existing powers.
Section 100.710 - Definitions.
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 100.790 - 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.