Effective - 28 Aug 2006
227.645. Financing terms and conditions — private partner may issue bonds, requirements — contract to issue bonds and loan proceeds. — 1. Any financing of the project may be in such amounts and upon such terms and conditions as may be determined by the commission and the private partner in the interim or comprehensive agreement. The commission and the private partner may use any and all revenues that may be available to them and may, to the fullest extent permitted by applicable law, issue debt, equity, or other securities or obligations.
2. The private partner may issue corporate bonds, private activity bonds, refunding bonds, notes, and other obligations, and may secure any of such obligations by mortgage, pledge, or deed of trust of any or all of the property and income of the private partner. The commission may contract with the private partner to assist in issuing bonds, notes, and other obligations under this subsection. The private partner shall not mortgage, pledge, or give a deed of trust on any real property or interests obtained by eminent domain acquired from the state of Missouri or any agency or political subdivision of the state. Bonds, notes, and other obligations issued under this subsection shall exclusively be the responsibility of the private partner payable solely out of private partner moneys and property and shall not constitute debt or liability of the commission, the state of Missouri, or any other agency or political subdivision of the state. The private partner and the commission shall not be obligated to pay such bonds, notes, or other obligations with any moneys other than those specifically pledged to repayment. Any such bonds, notes, or other obligations issued by the private partner or the commission shall state on the face that they are not obligations of the state of Missouri or any agency or political subdivision of the state. Any private partner bonds issued under this subsection, the interest thereon, and any proceeds from such bonds shall be exempt from taxation by the state of Missouri for all purposes except the state estate tax.
3. The private partner may also contract with the commission for the commission to issue state road bonds for the project and to loan the proceeds thereof to the private partner.
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(L. 2006 H.B. 1380)
Structure Missouri Revised Statutes
Title XIV - Roads and Waterways
Chapter 227 - State Highway System
Section 227.010 - Definitions.
Section 227.040 - Engineer to make surveys, plans, specifications.
Section 227.050 - Commission may act on engineer's recommendations.
Section 227.060 - Commission to determine width and character of construction — minimum width.
Section 227.070 - State highway through municipality — construction.
Section 227.080 - Certain bridges part of state highway system.
Section 227.100 - Publication of notices, where — construction bids — rejection — bond required.
Section 227.102 - Electronic bidding authorized, requirements and criteria — rulemaking authority.
Section 227.110 - Specifications for state highway system.
Section 227.130 - Rights-of-way — power to grant.
Section 227.160 - Higher type road may be constructed, when.
Section 227.170 - Civil subdivision may convey rights-of-way to state of Missouri — no refunds.
Section 227.180 - State highways and transportation commission to become trustee, when.
Section 227.190 - Surety bond necessary to guarantee payment of funds deposited — premium, how paid.
Section 227.200 - Failure to comply with requirements.
Section 227.210 - Commission to maintain state highways, how — cost, how paid.
Section 227.221 - White lines at outer edge of highway required.
Section 227.230 - Commission may grant highway marking privileges.
Section 227.250 - Commission may close state highway temporarily, when.
Section 227.260 - Commission may relocate state highways, when.
Section 227.270 - Commission may abandon and relocate inundated portion of highway.
Section 227.280 - Damages from inundation — how settled.
Section 227.290 - Highways and transportation commission may convey or exchange land or leasehold.
Section 227.302 - Carver Prairie Drive designated in Newton County.
Section 227.304 - Rick Harmon Memorial Highway designated in Taney County.
Section 227.317 - Babe Adams Highway designated.
Section 227.319 - Trooper James Froemsdorf Memorial Highway designated (Perry County).
Section 227.320 - Franklin Street designated for portion of Highway 47 in the city of Washington.
Section 227.321 - Veterans Memorial Bridge designated.
Section 227.323 - Henry Shaw Ozark Corridor designated.
Section 227.329 - Trooper Kelly L. Poynter Memorial Highway designated (Texas County).
Section 227.330 - Pearl Harbor Memorial Highway, portion of U.S. Highway 63 designated as.
Section 227.333 - Sergeant Randy Sullivan Memorial Highway designated (Iron County).
Section 227.335 - American Legion Memorial Highway — portion of U.S. Highway 65.
Section 227.336 - Korean War Veterans' Memorial Freeway, portion of U.S. Highway 60 designated as.
Section 227.344 - James B. Tatum Highway designated for a portion of I-49 in Newton County.
Section 227.349 - Veterans Highway designated for a portion of State Highway J in Lincoln County.
Section 227.356 - Congressman Mel Hancock Freeway designated in Greene County.
Section 227.357 - Korean War Veterans Association Memorial Highway designated in Phelps County.
Section 227.358 - Governor John M. Dalton Memorial Highway designated in Dunklin County.
Section 227.360 - Albert Brumley Memorial Highway designated in McDonald County.
Section 227.361 - Veterans Memorial Parkway designated in Johnson County.
Section 227.363 - Richard L. Harriman Highway designated in Clay County.
Section 227.367 - Officer Scott Armstrong Memorial Highway designated in St. Louis County.
Section 227.370 - Governor Mel Carnahan Memorial Highway designated in Phelps County.
Section 227.372 - Chief Jerry Buehne Memorial Road designated in St. Louis County.
Section 227.373 - Senator Christopher S. Bond Bridge designated in Hermann.
Section 227.380 - Theodore McNeal Highway designated for portion of Highway 115 in St. Louis City.
Section 227.387 - Deputy Charles M. Cook Memorial Highway designated for a portion of Highway 169.
Section 227.392 - Christopher S. Bond Bridge designated for I-29/35 bridge in Kansas City.
Section 227.404 - Leona Williams Highway designated for portion of U.S. Highway 63 in Maries County.
Section 227.407 - Lamar Hunt Memorial Highway designated for portion of Interstate 435.
Section 227.409 - Jack Buck Memorial Highway designated for portion of Interstate I-64/US 40.
Section 227.418 - Ferlin Husky Highway designated for portion of Highway 8 in St. Francois County.
Section 227.433 - Tom Boland Highway designated for a portion of U.S. Highway 61 in Marion County.
Section 227.441 - Marine LCPL Jared Schmitz Memorial Bridge designated in St. Charles County.
Section 227.469 - Mary Herschend memorial highway designated for portion of State Highway 76.
Section 227.500 - Ozark Mills Country designated.
Section 227.512 - AMVETS Memorial Highway designated for a portion of Route 94 in Callaway County.
Section 227.513 - Purple Heart Trail designated for a portion of I-70 and I-44.
Section 227.514 - Harriett Woods Memorial Highway designated for a portion of Interstate 170.
Section 227.515 - Sergeant Jeffry Kowalski Memorial Highway designated for a portion of Highway 32.
Section 227.522 - Purple Heart Trail designated for portions of I-49.
Section 227.523 - Irwin C. Cudworth Memorial Bridge designated on Highway CC in Ozark County.
Section 227.524 - Ray-Carroll County Veterans Memorial Highway designated for portion of Highway 10.
Section 227.525 - Billy Yates Highway designated for portion of U.S. Highway 160 in Ripley County.
Section 227.548 - Rep. Cloria Brown Memorial Highway designated.
Section 227.551 - Title of law — redesign of certain projects not required.
Section 227.552 - Definitions.
Section 227.556 - Revised project plan required, when.
Section 227.557 - Method of providing notices, responses, and plans — notice of excavation required.
Section 227.559 - Ordinances, policies, resolutions, or regulations permitted (St. Charles).
Section 227.603 - Legislative findings — construction.
Section 227.606 - Requests for approval, contents — fee.
Section 227.609 - Procurement process — notice — responsive bids, processing fee prohibited.
Section 227.615 - Approval of projects — procedure.
Section 227.618 - Tentative approval, criteria — interim agreements, requirements.
Section 227.621 - Approval of comprehensive agreements, requirements.
Section 227.624 - Terminating negotiations, rejecting requests and responses.
Section 227.627 - Closed records, when, open records, when.
Section 227.630 - Powers of private partners.
Section 227.633 - Private partner to provide financial information — bond may be required.
Section 227.636 - Powers of the commission.
Section 227.646 - Revenues tax-exempt.
Section 227.648 - Agreements authorizing private partner regarding procurement.
Section 227.651 - Private partner to provide plan, contents.
Section 227.654 - Right-of-way or easement authorized.
Section 227.657 - Condemnation authorized — requirements — surveying, damages to private property.
Section 227.663 - Limitation of liability.
Section 227.666 - Notice of material default and opportunity to cure — remedies.
Section 227.669 - Annual status report.
Section 227.793 - Nathanael Greene Highway designated for portion of I-44 in Greene County.
Section 227.795 - Bobby Plager Memorial Highway designated for a portion of I-64 in St. Louis City.
Section 227.796 - WWII Henry Archie Black Memorial Bridge designated in Polk County.
Section 227.808 - Police Officer Richard C Fleming Memorial Highway designated in Jackson County.
Section 227.810 - Annistyn Kate Rackley Memorial Highway designated in Pemiscot County.
Section 227.811 - Russell Lee Burton Memorial Highway designated in Montgomery County.
Section 227.812 - Firefighter Benjamin J Polson Memorial Highway designated in St. Louis County.
Section 227.813 - Samuel C Houston Memorial Highway designated in Clay County.
Section 227.814 - SP5 Billy J Meador Memorial Highway designated in St. Francois County.
Section 227.815 - WO1 Reginald D Cleve Memorial Highway designated in St. Francois County.
Section 227.817 - Championship Way designated in Clinton and Clay counties.