8.530. Powers of the authority. - Missouri Statutes

Powers of the authority.

8.530. The authority has all the general powers to the extentnecessary to carry out its purposes and duties and to exercise its specificpowers to the extent necessary, including but not limited to all of thefollowing powers:

(1) The power to issue its bonds and to enter into other fundingoptions as provided in sections 8.500 to 8.565;

(2) The power to sue and be sued in its own name;

(3) The power to make and execute agreements, contracts, and otherinstruments, with any public or private person, in accordance with sections8.500 to 8.565;

(4) The power to hire and compensate legal counsel, financialadvisors, investment bankers, and other persons as necessary to fulfill itspurposes, following the solicitation of qualifications for such servicesand the evaluation thereof by the authority;

(5) The power to invest or deposit moneys of or held by the authorityin such deposits or investments as the state may invest, and in obligationsof states and their political subdivisions that are rated in one of the twohighest rating categories by a nationally recognized bond rating agency;

(6) The power to create funds and accounts necessary to carry out itspurposes;

(7) The power to procure insurance, other credit enhancements, andother financing arrangements, and to execute instruments and contracts andto enter into agreements convenient or necessary to facilitate financingarrangements of the authority and to fulfill the purposes of the authorityunder sections 8.500 to 8.565, including but not limited to sucharrangements, instruments, contracts, and agreements as municipal bondinsurance, liquidity facilities, forward purchase agreements, interest rateswaps, exchange or cap or floor agreements, and letters of credit;

(8) The power to accept appropriations from public entities for thepurpose of securing debt obligations with a maturity of not more than oneyear issued pursuant to section 8.545 hereof;

(9) The power to adopt rules, consistent with sections 8.500 to8.565, as the board determines necessary;

(10) The power to acquire, own, hold, administer, and dispose ofpersonal property;

(11) The power to determine, in connection with the issuance ofbonds, and subject to the sales agreement, the terms and other details ofany financing, and the method of implementation of the financing;

(12) The power to make all expenditures which are incident andnecessary to carry out its purposes and powers; and

(13) The power to perform any act not inconsistent with federal orstate law necessary to carry out the purposes of the authority.

(L. 2002 S.B. 1191)

Effective 6-07-02

*Section terminates upon satisfaction of all outstanding notes and obligations issued pursuant to sections 8.500 to 8.590. See section 8.589.