Title XXIII — CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

360.010. Short title. — Sections 360.010 to 360.140 may be referred to and cited as the "Missouri Health and Educational Facilities Authority Act". ­­-------- (L. 1975 H.B. 70 § 27)

360.015. Definitions. — As used in sections 360.010 to 360.140, unless the context clearly requires otherwise, the following terms mean: (1) "Authority", the health and educational facilities authority of the state of Missouri created by sections 360.010 to 360.140; (2) "Costs", …

360.020. Authority established — membership, terms — vacancy, how filled — removal of member, when. — There is hereby created a body politic and corporate to be known as the "Health and Educational Facilities Authority of the State of Missouri". The authority is hereby constitute…

360.025. Meetings to be open — quorum — notice — expenses of members. — Four members of the authority shall constitute a quorum for the purpose of conducting business. The exercise of the powers of the authority and action may be taken by the authority upon the affirmative vote o…

360.030. Officers of authority, how selected — powers and duties, how fixed. — The member of the authority designated by the governor for the purpose shall call and convene the initial organizational meeting of the authority and shall serve as its chairman pro tem. At the initial…

360.035. Bond required, amount of. — Each member of the authority shall execute a surety bond in the penal sum of fifty thousand dollars or, in lieu thereof, the chairman of the authority shall execute a blanket bond covering each member and the employees or other officers of the…

360.040. Conflict of interest not applicable, when. — Any other provision of the law to the contrary notwithstanding, it shall not be or constitute a conflict of interest for a trustee, director, officer, employee, owner or partner of any health institution, educational instituti…

*360.045. Powers of authority — transfer of moneys to rebuild damaged infrastructure fund. — 1. The authority shall have the following powers together with all powers incidental thereto or necessary for the performance thereof: (1) To have perpetual succession as a body politic a…

360.046. Missouri college savings bonds, purpose, guidelines established by authority. — 1. Other provisions of law to the contrary notwithstanding, whenever the authority issues its bonds, notes or other evidences of indebtedness pursuant to sections 360.010 to 360.140, the auth…

360.047. Power of authority in issuance of bonds, notes or indebtedness — authority to conduct public hearings, when. — 1. The authority shall have the power to assist, coordinate and participate with governmental authorities and issuers of states other than the state of Missouri…

360.050. Authority must act as lessor only — term of lease — rentals, how set. — The authority shall not have the power to operate any facility or facilities as a business other than as a lessor. Any lease of any facility or facilities entered into pursuant to the provisions of s…

360.055. Acquisition of property authorized — participating health or educational institution, power to borrow funds from authority. — 1. The authority is authorized and empowered directly, or by or through a participating health institution or participating educational instituti…

360.060. Bonds, form of, terms — how sold. — Bonds of the authority may be issued as serial bonds, as term bonds, or as a combination of both types. All bonds issued by the authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the …

360.065. Subsequent or additional issues of bonds, when — refunding bonds, when. — Issuance by the authority of one or more series of bonds for one or more than one purpose shall not preclude it from issuing other bonds in connection with the same facility or facilities, any othe…

360.070. Bonds and interest coupons declared negotiable instruments. — All bonds of the authority and the interest coupons applicable thereto are hereby made and shall be construed to be negotiable instruments. ­­-------- (L. 1975 H.B. 70 § 12)

360.075. Bonds, how secured. — 1. The principal of and interest on any bonds issued by the authority shall be secured by a pledge of the revenues, rentals, and receipts out of which the same shall be made payable and may be secured by a trust indenture or mortgage or deed of trus…

360.080. Bonds not an obligation of the state. — Bonds issued under the provisions of sections 360.010 to 360.140 shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof or a pledge of the full faith and credit of the state or of…

360.085. Income of authority tax exempt — bonds deemed to be securities issued by public instrumentality. — The authority is hereby declared to be performing a public function in behalf of the state and to be a public instrumentality of the state. Accordingly, the income of the a…

360.090. Authority to be self-supporting, exception. — All expenses of the authority incurred in carrying out the provisions of sections 360.010 to 360.140 shall be payable solely from funds provided under the provisions of sections 360.010 to 360.140, and no liability shall be i…

360.095. Initial planning service fee, amount of, how determined — proration of fee, when. — 1. When an application is made to the authority by any health institution or educational institution for financial assistance, the application shall be accompanied by an "initial planning…

360.100. Conveyance to participating institution, when made. — When the principal of and interest on bonds issued by the authority to finance the cost of facilities or to refinance outstanding indebtedness of one or more participating health institutions or participating educatio…

360.105. Financing by purchase of securities of participating institution authorized — such securities to be secured, how. — 1. Any other provision of sections 360.010 to 360.140 to the contrary notwithstanding, the authority may finance the cost of a health or educational facili…

360.106. Definitions — bonds or notes issued for loans to or purchase of notes of school districts and community colleges — how secured — investment of funds — bids required for professional services furnished — report by authority due when. — 1. As used in this section and secti…

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 …

360.108. Bonds or notes to finance self-insurance or risk management programs, effect of programs. — 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 po…

360.109. Bonds or notes to finance desegregation of schools, powers of authority. — 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 bond…

360.110. Sections 360.010 to 360.140 not exclusive of other provisions of law. — 1. Neither sections 360.010 to 360.140 nor anything in sections 360.010 to 360.140 shall be construed as a restriction or limitation upon any powers which the authority might otherwise have under any…

360.111. School districts or public community colleges may participate in a direct deposit agreement — participation a waiver of right to bankruptcy. — Any school district or public community college which is not a participating district, as defined in section 360.106, with respe…

360.112. Authority to serve as administrator for issuance — commissioner of education and state treasurer's authority. — The authority shall serve as administrator for any issuance pursuant to sections 360.111 to 360.118. The authority, the commissioner of education and the state…

360.113. Districts with direct deposit agreement eligible for one-time grant for each issue for construction or to refinance lease purchase grant, amount. — 1. Any school district which has a direct deposit agreement with the authority pursuant to sections 360.111 to 360.118 shal…

360.114. Authority to determine grant amount, actual cost of issuance, when — transfers to be at no cost to school district. — 1. On or before July 1, 1997, and every two years thereafter, the authority shall determine the weighted average, actual cost of issuance percentage for …

360.115. Proceeds of bond sales and fees collected are not revenue of the state. — The proceeds of all bonds issued by the authority and of all fees permitted to be charged by the authority under sections 360.010 to 360.140 shall not be considered to be part of the revenue of the…

360.116. Payment of grants, procedure — refunding or refinancing existing bonds, net present value savings amount. — 1. Payment of grants under sections 360.111 to 360.118 shall be made from funds appropriated for such purpose under section 164.303. Payment shall be authorized by…

360.117. Funding for grants less than amount of grants distributable, first priority construction or renovation projects. — If the amount of funding available for grants under sections 360.111 to 360.118 is less than the total amount of grants distributable under sections 360.111…

360.118. Authority's power to invest, when — earnings attributable to district, distribution — law not applicable to finance new lease purchase agreement. — 1. The authority may invest any funds held pursuant to powers granted under sections 360.111 to 360.118, which are not requ…

360.120. Approved investments. — 1. The authority may invest any of its funds in: (1) Bonds, notes, certificates of indebtedness, treasury bills, or other securities constituting direct obligations of, or obligations the principal of and interest on which are fully guaranteed by,…

360.125. Bonds issued by authority, fiduciaries may invest in. — All banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, insurance companies and associations, and all executors, admi…

360.130. Facilities not public buildings. — Facilities shall not be considered to be public buildings, structures, grounds, works, or improvements and shall not be subject to any requirements relating to public buildings, structures, grounds, works, or improvements imposed by the…

360.135. Authority to be tax exempt — proceeds of bonds tax exempt, exception. — The authority is hereby declared to be performing a public function in behalf of the state and to be a public instrumentality of the state. Accordingly, the authority shall not be required to pay any…

360.140. Authority assigned to the office of administration — report to director required. — The health and educational facilities authority is assigned to the office of administration. The authority shall annually, on or before February first of each year, file with the office o…