348.175. Investment powers and limitations of authority. - Missouri Statutes

Investment powers and limitations of authority.

348.175. The authority shall have the power, as necessary orconvenient to carry out and effectuate the purposes andprovisions of sections 348.005 to 348.180, and subject to anyagreement with bondholders or noteholders, to invest moneys ofthe authority, including proceeds form the sale of any bonds ornotes, in:

(1) Direct obligations of or obligations guaranteed as toprincipal and interest by the United States government, or anyagency thereof, or by the state of Missouri;

(2) Obligations issued by the Government National MortgageAssociation, Bank for Cooperatives, Federal Intermediate CreditBanks, Federal Home Loan Bank System, or Federal Land Banks, orby the Federal National Mortgage Association;

(3) Negotiable or nonnegotiable certificates of depositissued by any bank which is insured by the Federal DepositInsurance Corporation, or its successor corporation, if then inexistence;

(4) Any other obligations of this state or of the UnitedStates, or any agency or instrumentality of either, which maythen be purchased with funds belonging to this state or held inthe state treasury; or

(5) Such securities and deposit accounts as are permissiblefor the investment of state public funds by the state treasurer.

(L. 1981 H.B. 681 § 38)