30.753. Treasurer's authority to invest in linked deposits, limitations. - Missouri Statutes

Treasurer's authority to invest in linked deposits, limitations.

30.753. 1. The state treasurer may invest in linked deposits;however, the total amount so deposited at any one time shall not exceed, inthe aggregate, seven hundred twenty million dollars. No more than threehundred thirty million dollars of the aggregate deposit shall be used forlinked deposits to eligible farming operations, eligible locally ownedbusinesses, eligible agribusinesses, eligible beginning farmers, eligiblelivestock operations, and eligible facility borrowers, no more than onehundred ten million of the aggregate deposit shall be used for linkeddeposits to small businesses, no more than twenty million dollars shall beused for linked deposits to eligible multitenant development enterprises,and no more than twenty million dollars of the aggregate deposit shall beused for linked deposits to eligible residential property developers andeligible residential property owners, no more than two hundred twentymillion dollars of the aggregate deposit shall be used for linked depositsto eligible job enhancement businesses and no more than twenty milliondollars of the aggregate deposit shall be used for linked deposit loans toeligible water systems. Linked deposit loans may be made to eligiblestudent borrowers , eligible alternative energy operations, eligiblealternative energy consumers, and eligible governmental entities from theaggregate deposit. If demand for a particular type of linked depositexceeds the initial allocation, and funds initially allocated to anothertype are available and not in demand, the state treasurer may commingleallocations among the types of linked deposits.

2. The minimum deposit to be made by the state treasurer to aneligible lending institution for eligible job enhancement business loansshall be ninety thousand dollars. Linked deposit loans for eligible jobenhancement businesses may be made for the purposes of assisting withrelocation expenses, working capital, interim construction, inventory, sitedevelopment, machinery and equipment, or other expenses necessary to createor retain jobs in the recipient firm.

(L. 1986 H.B. 1107 § 2, A.L. 1987 H.B. 294, A.L. 1988 H.B. 1260, A.L. 1989 S.B. 444, A.L. 1991 H.B. 51, et al., A.L. 1993 H.B. 566, A.L. 1998 S.B. 852 & 913, A.L. 2004 S.B. 1155, A.L. 2005 S.B. 270, A.L. 2007 H.B. 741, A.L. 2008 S.B. 1181, et al., A.L. 2009 H.B. 883)