226.191. State transportation assistance revolving fund created--administration--powers of commission--fund not to lapse. - Missouri Statutes

State transportation assistance revolving fundcreated--administration--powers of commission--fund not to lapse.

226.191. 1. For the purposes of assisting in the planning, acquisition,development and construction of transportation facilities other than highwaysin this state, there is hereby created in the state treasury a fund known asthe "State Transportation Assistance Revolving Fund". The fund shall receiveall moneys which may be appropriated or otherwise credited to it by thegeneral assembly and shall also receive any gifts, contributions, grants orbequests received from federal, private or other sources.

2. The state transportation assistance revolving fund shall beadministered by the state highways and transportation commission which shallhave the power to loan moneys in the fund to any political subdivision of thestate or to any public or private not-for-profit organization or entity for:

(1) The planning, acquisition, development and construction offacilities for transportation by air, water, rail or mass transit;

(2) The purchase of vehicles for the transportation of elderly orhandicapped persons; or

(3) The purchase of rolling stock for transit purposes. No funds provided by this section shall be used for the payment of theoperating expenses of such transportation facilities or for the constructionor maintenance of state highways.

3. The state highways and transportation commission, by rule, shallestablish* the procedures, conditions and repayment terms applicable to anyloans or grants made under this section. An application fee or other chargesmay be assessed by the commission. Loans made under this section may beinterest bearing or interest free.

4. Loaned funds and the interest, if any, accrued thereon which arerepaid to the state highways and transportation commission shall be depositedin the state treasury to the credit of the state transportation assistancerevolving fund and may be used by the commission for other eligible projectsunder this section.

5. Any balance in the state transportation assistance revolving fundremaining at the end of an appropriation period shall not be transferred tothe general revenue fund and the provisions of section 33.080, RSMo, shall notapply to the fund. All interest earned upon the balance in the statetransportation assistance revolving fund shall be deposited to the credit ofthe same fund.

(L. 1996 S.B. 780 § 14)

*Word "established" appears in original rolls.