Section 173.425 – Assets not part of revenue — exclusive control of authority — student loan notes not public property.
Effective – 28 Aug 2007 173.425. Assets not part of revenue — exclusive control of authority — student loan notes not public property. — No asset of the authority shall be considered to be part of the revenue of the state within the meaning of Article III, Section 36, of the Constitution of Missouri, and […]
Section 173.435 – Institutions and fiduciaries may invest in bonds.
Effective – 28 Aug 1981 173.435. Institutions and fiduciaries may invest in bonds. — All banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, credit unions, insurance companies and associations, and all executors, administrators, guardians, trustees, and other fiduciaries legally may invest any sinking funds, moneys […]
Section 173.440 – Tax exemptions, bonds — exception.
Effective – 28 Aug 1994 173.440. Tax exemptions, bonds — exception. — The bonds and other forms of indebtedness issued under the provisions of this act, the interest thereon, the proceeds received by a holder from the sale thereof to the extent of the holder’s cost of acquisition, or proceeds received upon redemption prior to […]
Section 173.445 – Authority assigned to department of higher education — reports required.
Effective – 28 Aug 1994 173.445. Authority assigned to department of higher education — reports required. — The higher education loan authority is assigned to the department of higher education and workforce development. The authority shall annually file with the director of said department a report of its previous year’s income, expenditures and bonds or […]
Section 173.395 – Issuance of more than one series of bonds, requirements — refunding authorized.
Effective – 28 Aug 1994 173.395. Issuance of more than one series of bonds, requirements — refunding authorized. — Issuance by the authority of one or more series of bonds or other forms of indebtedness shall not preclude it from issuing other bonds or other forms of indebtedness in connection with the same purpose or […]
Section 173.400 – Bonds construed to be negotiable instruments.
Effective – 28 Aug 1994 173.400. Bonds construed to be negotiable instruments. — All bonds or other forms of indebtedness of the authority and the interest coupons applicable thereto are hereby made and shall be construed to be negotiable instruments. ——– (L. 1981 H.B. 326, A.L. 1994 S.B. 583)
Section 173.405 – Principal and interest, how secured — resolution or trust agreement, content — default, remedies.
Effective – 28 Aug 1994 173.405. Principal and interest, how secured — resolution or trust agreement, content — default, remedies. — The principal of and interest on any bonds issued by the authority shall be secured by a pledge of the revenues derived from or by reason of the ownership of student loan notes and […]
Section 173.410 – State or political subdivision not liable, statement on face of bond required.
Effective – 28 Aug 1994 173.410. State or political subdivision not liable, statement on face of bond required. — Bonds or other forms of indebtedness issued under the provisions of sections 173.350 to 173.450 shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof or a […]
Section 173.415 – Tax exemptions, income and property of authority — bonds exempt from certain provisions.
Effective – 28 Aug 1994 173.415. Tax exemptions, income and property of authority — bonds exempt from certain provisions. — The authority is hereby declared to be performing a public function and to be a separate public instrumentality of the state. Accordingly, the income of the authority and all properties at any time owned by […]
Section 173.420 – Authority may borrow for expenses — loans to be repaid — powers of authority, how construed.
Effective – 28 Aug 1981 173.420. Authority may borrow for expenses — loans to be repaid — powers of authority, how construed. — All expenses of the authority incurred in carrying out the provisions of sections 173.350 to 173.450 shall be payable solely from funds provided under such sections, and no liability shall be incurred […]