100.750. Financing agreement, contents. - Missouri Statutes

Financing agreement, contents.

100.750. The financing agreement shall provide in substance that:

(1) It may be assigned by the eligible industry only upon the priorwritten consent of the board following the adoption of a resolution by theboard to such effect; and

(2) Upon default by the eligible industry in any obligations underthe financing agreement or other documents evidencing, securing or relatedto the eligible industry's obligations, the board shall have the right, atits option, to:

(a) Declare the financing agreement or other such documents indefault;

(b) Accelerate and declare the total of all such payments due by theeligible industry and sell the economic development project at public,private, or judicial sale;

(c) Pursue any remedy provided under the financing agreement or othersuch documents;

(d) Be entitled to the appointment of a receiver by the circuit courtwherein any part of the economic development project is located; and

(e) Pursue any other applicable legal remedy.

(L. 1996 H.B. 1237 § 12)