Effective - 28 Aug 1988
360.107. Bonds or notes to finance working capital, security for — working capital defined. — 1. Notwithstanding any other provision of law to the contrary, in addition to other powers granted to the authority by sections 360.010 to 360.140, the authority shall have the power to issue bonds or notes for the purpose of making loans to, or purchasing the notes of, any educational institution or health institution for the purpose of financing working capital and all related costs of such financing, including, but not limited to, all costs, charges, fees and expenses of underwriters, advisory lawyers, consultants, accountants and of the authority. "Working capital" as used in this section means moneys to be used by, or on behalf of, an educational institution or health institution to pay or prepay maintenance or operation expenses or any other costs that would be treated as an expense item, under generally accepted accounting principles, in connection with the ownership or operation of an educational facility or health facility, including, but not limited to, reserves for maintenance or operation expenses, interest for not to exceed one year on any loan for working capital made pursuant to this part, and reserves for debt service with respect to, and any costs necessary or incidental to, that financing.
2. Bonds or notes issued pursuant to this section may be secured by a pledge of payments made to the authority by the educational institution or health institution, by the notes of the educational institution or health institution, or by a pooling of such payments or notes of two or more such entities. In connection with any financing pursuant to the power granted in this section, the authority shall have all power as set forth elsewhere by sections 360.010 to 360.140.
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(L. 1988 H.B. 1456)
Structure Missouri Revised Statutes
Title XXIII - Corporations, Associations and Partnerships
Chapter 360 - Missouri Health and Educational Facilities Act
Section 360.010 - Short title.
Section 360.015 - Definitions.
Section 360.025 - Meetings to be open — quorum — notice — expenses of members.
Section 360.030 - Officers of authority, how selected — powers and duties, how fixed.
Section 360.035 - Bond required, amount of.
Section 360.040 - Conflict of interest not applicable, when.
Section 360.045 - Powers of authority — transfer of moneys to rebuild damaged infrastructure fund.
Section 360.046 - Missouri college savings bonds, purpose, guidelines established by authority.
Section 360.050 - Authority must act as lessor only — term of lease — rentals, how set.
Section 360.060 - Bonds, form of, terms — how sold.
Section 360.065 - Subsequent or additional issues of bonds, when — refunding bonds, when.
Section 360.070 - Bonds and interest coupons declared negotiable instruments.
Section 360.075 - Bonds, how secured.
Section 360.080 - Bonds not an obligation of the state.
Section 360.090 - Authority to be self-supporting, exception.
Section 360.095 - Initial planning service fee, amount of, how determined — proration of fee, when.
Section 360.100 - Conveyance to participating institution, when made.
Section 360.107 - Bonds or notes to finance working capital, security for — working capital defined.
Section 360.109 - Bonds or notes to finance desegregation of schools, powers of authority.
Section 360.110 - Sections 360.010 to 360.140 not exclusive of other provisions of law.
Section 360.115 - Proceeds of bond sales and fees collected are not revenue of the state.
Section 360.120 - Approved investments.
Section 360.125 - Bonds issued by authority, fiduciaries may invest in.
Section 360.130 - Facilities not public buildings.
Section 360.135 - Authority to be tax exempt — proceeds of bonds tax exempt, exception.
Section 360.140 - Authority assigned to the office of administration — report to director required.