100.282. Limitations on approval of loans. - Missouri Statutes

Limitations on approval of loans.

100.282. The Missouri development finance board, the Missouri healthand educational* facilities authority, the Missouri higher education loanauthority, the Missouri housing development commission, and theenvironmental improvement and energy resources authority shall only approveloan requests from the state, any agency or department of the state, or anystate educational institution if the borrower's means of repayment isreadily ascertainable and reliable. With the exception of annualappropriation debt for state-owned property, the entities listed in thissection shall not approve such requests if the means of repayment iscontingent upon state funding that has not been granted, unless the projecthas been approved by concurrent resolution of the general assembly, orsimilar legislative directive or approval.

(L. 2006 S.B. 718)

*Word "education" appears in original rolls.