Effective – 28 Aug 2010 349.010. Definitions. — As used in sections 349.010 to 349.100, unless the context otherwise requires, the following words and terms shall have the meanings indicated: (1) “Corporations” means any authority organized pursuant to the provisions of sections 349.010 to 349.100; (2) “County and municipality”. “County” means any county in the […]
Effective – 28 Aug 1991 349.012. Promotion of commercial and industrial development, powers of governing bodies of cities and counties. — The governing body shall have the power to spend its funds to promote commercial and industrial development and, in order to achieve such promotion, to engage in any activities, either on its own or […]
Effective – 28 Aug 1977 349.015. No eminent domain. — Any corporation subject to sections 349.010 to 349.100 is prohibited the power of eminent domain. ——– (L. 1977 S.B. 267 § 2)
Effective – 28 Aug 1977 349.020. Agricultural operations not authorized. — No corporation shall itself be authorized to operate any manufacturing, industrial or commercial enterprise or conduct an agricultural operation as prohibited by chapter 350. ——– (L. 1977 S.B. 267 § 3)
Effective – 28 Aug 1977 349.025. Who may be incorporators. — Whenever any number of natural persons, not less than three, each of whom shall be a duly qualified elector of and taxpayer in the county or municipality, shall file with the governing body thereof an application in writing seeking permission to apply for the […]
Effective – 28 Aug 1977 349.030. Articles of incorporation, form and contents of. — The articles of incorporation shall set forth (1) The names and residences of the applicants together with a recital that each of them is an elector of and taxpayer in the county or municipality; (2) The name of the corporation, which […]
Effective – 28 Aug 1977 349.035. Articles, where filed — secretary of state to issue certificate, when. — When executed and acknowledged in conformity with section 349.030 above, the articles of incorporation shall be filed with the secretary of state. The secretary of state shall thereupon examine the articles of incorporation and, if he finds […]
Effective – 28 Aug 1977 349.040. Articles, how amended. — The articles of incorporation may at any time and from time to time be amended so as to make any changes therein and add any provisions thereto which might have been included in the articles of incorporation in the first instance. Any such amendment shall […]
Effective – 28 Aug 2015, 2 histories 349.045. Board of directors, qualifications — exceptions for industrial development corporations (second, third, fourth class counties, St. Francois County) — appointment, terms — requirements for Lewis County. — 1. Except as provided in subsection 2 of this section, the corporation shall have a board of directors in which […]
Effective – 28 Aug 1980 349.050. Powers of corporation. — The corporation is hereby granted and may exercise all powers necessary or appropriate to carry out and effectuate its purposes, including but not limited to the following: (1) To adopt bylaws and rules for the regulation of its affairs and the conduct of its business; […]
Effective – 28 Aug 1978 349.052. General and business corporation law applicable — exceptions. — The general and business corporation law of Missouri, chapter 351, shall be applicable to industrial development corporations organized pursuant to this chapter except that any provision of this chapter shall take precedence over any provision of chapter 351 which conflicts […]
Effective – 28 Aug 1980 349.055. Revenue bonds, issuance, provisions, sale. — The corporation may at any time issue revenue bonds for the purpose of paying any part of the cost of any project or part thereof. Every issue of its bonds shall be payable out of the property and revenues of the corporation which […]
Effective – 28 Aug 1980 349.060. Notes, issuance, provisions, sale. — Pending the issuance of bonds, the corporation may issue notes payable from the proceeds of such bonds or from such other sources as the corporation may specify as in the case of bonds. Such notes shall mature in not more than five years and […]
Effective – 28 Aug 1977 349.065. Renewal notes, issued when, how. — The corporation may from time to time issue renewal notes or refund any bonds by the issuance of refunding bonds, whether the bonds to be refunded have or have not matured, and to issue bonds partially to refund bonds then outstanding and partially […]
Effective – 28 Aug 1980 349.070. Resolutions authorizing issuance of bonds or notes, provisions authorized in. — Any resolution authorizing any notes or bonds may contain such provisions, covenants and agreements subject to any provisions, covenants and agreements with the holders of bonds or notes then outstanding as the corporation determines necessary, such provisions, covenants […]
Effective – 28 Aug 1980 349.075. Trust agreements authorized. — A resolution of the corporation authorizing the issuance of any notes or bonds or any issue thereof may provide that such notes or bonds shall be secured by a trust agreement between the corporation and a corporate trustee, vesting in such trustee such property, rights, […]
Effective – 28 Aug 1977 349.080. Individuals not liable on notes or bonds. — Neither the directors of any corporation nor any person executing the bonds or notes shall be liable personally on the bonds or notes by reason of the issuance thereof. Bonds and notes issued under this section by a corporation created by […]
Effective – 28 Aug 1977 349.085. Notes and bonds declared to be approved investments for fiduciaries. — The notes and bonds of the corporation are securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, […]
Effective – 28 Aug 1985 349.090. Projects not tax exempt, exceptions — bond and note interest is exempt, exception. — Projects acquired, constructed, reconstructed, enlarged, improved, furnished, equipped, maintained, repaired, operated, leased, financed or sold by the corporation pursuant to sections 349.010 to 349.100 shall be subject to all real and tangible personal property taxes […]
Effective – 28 Aug 1977 349.095. Dissolution of corporation, effect of. — Upon termination or dissolution, all rights and properties of the corporation shall pass to and be vested in the county or municipality of incorporation, subject to the rights of bondholders, noteholders, and other creditors. Except that no county or municipality nor the citizens […]
