Missouri Revised Statutes
Chapter 238 - Transportation Districts and Transportation Corporations, Special Projects
Section 238.406 - Instruments issued by transit authority to be recognized as securities.

Effective - 28 Aug 1991
238.406. Instruments issued by transit authority to be recognized as securities. — Any notes, bonds or other instruments in writing issued by a transit authority pursuant to the provisions of sections 238.400 to 238.412 are recognized to be securities in which all state and municipal officers and bodies, all banks, bankers, trust companies, savings banks, savings associations, building and loan associations, investment companies, and all other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees and other fiduciaries and all other persons whatsoever who are now or who may hereafter be authorized to invest in bonds or other obligations of the state of Missouri may properly and legally invest any funds, including capital, belonging to them, or within their control. Such obligations are recognized as securities which may properly and legally be deposited with and shall be received by any state or municipal officer or agency for any purpose for which the deposit of bonds or other obligations of this state is now or may hereafter be authorized.
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(L. 1991 S.B. 235 § 4)

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XIV - Roads and Waterways

Chapter 238 - Transportation Districts and Transportation Corporations, Special Projects

Section 238.010 - Compact between Missouri and Kansas — powers and duties of authority.

Section 238.020 - Compact, when binding, where filed.

Section 238.030 - Authority may apply for approval of Congress.

Section 238.040 - Tax status of property and securities of authority.

Section 238.050 - Securities of authority recognized as lawful investments.

Section 238.060 - Commissioners, appointment, terms.

Section 238.070 - Qualifications of commissioners.

Section 238.080 - Compensation and expenses of commissioners.

Section 238.090 - Powers and duties of commissioners.

Section 238.100 - Additional powers and duties of commissioners.

Section 238.200 - Citation of law.

Section 238.202 - Definitions.

Section 238.205 - Purpose of district — district to be political subdivision.

Section 238.207 - Creation of district, procedures — district to be contiguous, size requirements — petition, contents — alternative method.

Section 238.208 - Annexation of property adjacent to a transportation district, procedure — removal of property, procedure.

Section 238.210 - Hearing, how conducted — opposition to district, how filed — appeals, how.

Section 238.212 - Notice to public, how.

Section 238.215 - Election, when — ballot, form of — results.

Section 238.216 - Election procedure, duties of court — application for ballot, contents — mail-in elections, affidavit form, procedure — unanimous verified petition submitted, when — results entered, how.

Section 238.217 - Costs of petition process, how paid.

Section 238.220 - Directors, election of, how, qualifications — advisors, appointed when, duties.

Section 238.222 - Powers of board, generally — officers, meetings, expenses — quorum — notification of organization — submission to state auditor and department of revenue.

Section 238.225 - Projects, submission of plans to commission, approval — submission to local transportation authority, when — exemption.

Section 238.227 - Funding mechanisms authorized — deposits with commission or authority, purpose.

Section 238.230 - Special assessments, vote required — election, ballot form — petition form — effect of failure of question.

Section 238.232 - Property tax, vote required — election, ballot form — collection of tax.

Section 238.233 - Collection of revenues.

Section 238.235 - Sales tax, certain districts, exemptions from tax — election, ballot form — procedures for collection, distribution, use — repeal of tax — not considered economic activity tax.

Section 238.236 - Sales tax for transportation development district on all retail sales authorized — ballot form, content — rate of tax collection — fund created, lapse to general revenue prohibited — distribution — procedure to repeal tax.

Section 238.237 - Toll roads, allowed when — election, ballot form.

Section 238.240 - Indebtedness, authorized — bonds, authority to issue — limitations.

Section 238.242 - Revenue bonds, authorized — procedures, requirements — refunding bonds — tax-exempt status.

Section 238.245 - Property, district may purchase and control access.

Section 238.247 - Condemnation, subject to commission or authority approval, ordinance of local governing body — procedures — relocation expenses to be paid, how.

Section 238.250 - Contractual powers.

Section 238.252 - Powers — generally.

Section 238.255 - Insurance, district may obtain — purposes — self-insurance not allowed, exception.

Section 238.257 - Projects, number of, changes — procedures, election required, ballot form.

Section 238.260 - Commission and authority may provide assistance, how.

Section 238.262 - Rules, commission may adopt.

Section 238.265 - Conveyance of property to district, how.

Section 238.267 - Projects, regulation of — treatment as part of state or local system, when.

Section 238.270 - Local transportation authority not to control project improvements, exception.

Section 238.272 - Audit authorized, when — costs, payment of.

Section 238.275 - Projects, transfer to commission or authority, when — abolishment of district, procedures, duties.

Section 238.280 - Posting of increase in sales tax, when.

Section 238.300 - Citation of law.

Section 238.302 - Definitions.

Section 238.305 - Purpose of law.

Section 238.307 - Corporation, creation of, purpose — organization, nonprofit — tax-exempt status.

Section 238.310 - Formation, procedures, requirements — hearing, duties of commission — approval, when.

Section 238.312 - Articles of incorporation, contents, amendment — filing.

Section 238.315 - Board, members, terms — expense reimbursement — advisors, commission to appoint — officers, appointment of.

Section 238.317 - Bylaws, adoption and approval.

Section 238.320 - Project plans, commission approval of.

Section 238.322 - Funding mechanisms, allowable — deposits with commission, purpose.

Section 238.325 - Fees, tolls and charges, allowed when, enforcement authority — relocation of highways and roads, authority.

Section 238.327 - Indebtedness authorized — bonds, may be issued.

Section 238.330 - Revenue bonds, authorized — procedures, requirements — refunding bonds — tax-exempt status.

Section 238.332 - Property, corporation may purchase and control access.

Section 238.335 - Condemnation, subject to commission approval — procedures — relocation expenses to be paid, how.

Section 238.337 - Contractual powers.

Section 238.340 - Powers — generally.

Section 238.342 - Indemnification of directors, employees.

Section 238.345 - Commission may provide assistance, how.

Section 238.347 - Rules, commission may adopt.

Section 238.350 - Projects, regulation of — treatment as part of highway system, when.

Section 238.352 - Transfer of project to commission, when — dissolution of corporation, required when — procedures.

Section 238.355 - Dissolution by commission, procedures, limitations.

Section 238.357 - Dissolution by board, procedures.

Section 238.360 - Articles of dissolution, execution of — secretary of state to issue certificate, when.

Section 238.362 - Toll enforcement, authority — toll assessment and collection, methods — notice to be posted near toll facility.

Section 238.365 - Infraction for violation of toll collection regulation — report, admissibility, photo is rebuttable presumption, multiple vehicle owners.

Section 238.367 - Procedures to collect tolls and issue traffic citation for toll violation, report of violation.

Section 238.400 - County first class transit authority created — members, appointment, qualifications.

Section 238.402 - County first class transit authority — powers, generally.

Section 238.404 - County first class transit authority — powers with respect to bi-state development agency.

Section 238.406 - Instruments issued by transit authority to be recognized as securities.

Section 238.408 - Property held by transit authority — status for purposes of taxation.

Section 238.410 - Transit authority sales tax — election, ballot language, amendment of tax, requirements — director of revenue, duties — trust fund established — surety bonds required — delinquent taxes, procedure.

Section 238.412 - Certain public officials prohibited from award of government funds.