348.080. Duties of authority. - Missouri Statutes

Duties of authority.

348.080. The authority shall have the following duties:

(1) To invest any funds not needed for immediatedisbursement, including any funds held in reserve, in direct andgeneral obligations of or obligations fully and unconditionallyguaranteed by the United States or any agency of the UnitedStates, obligations issued by agencies of the United States,obligations of this state, or any obligations or securities whichmay from time to time be legally purchased by politicalsubdivisions of this state, or unsecured promissory notes ofnational banking associations having the highest investmentrating;

(2) To collect fees and charges, as the authority determinesto be reasonable, in connection with its loans, advances,insurance, commitments, and servicing;

(3) To cooperate with and exchange services, personnel, andinformation with any federal, state, or local governmentalagency;

(4) To sell, at public or private sale, with or withoutpublic bidding, any loan or other obligation held by theauthority; and

(5) To do any act necessary or convenient to the exercise ofthe powers granted by sections 348.005 to 348.180 or reasonablyimplied from the provisions of sections 348.005 to 348.180.

(L. 1981 H.B. 681 § 17)

CROSS REFERENCES:

Bi-state development agency, bonds of, investment in authorized, RSMo 70.377

Multinational banks, securities and obligations of, investment in, when, RSMo 409.950

Savings accounts in insured savings and loan associations, investment in authorized, RSMo 369.194