360.090. Authority to be self-supporting, exception. - Missouri Statutes

Authority to be self-supporting, exception.

360.090. All expenses of the authority incurred in carryingout the provisions of sections 360.010 to 360.140 shall bepayable solely from funds provided under the provisions ofsections 360.010 to 360.140, and no liability shall be incurredby the authority beyond the extent to which moneys shall havebeen provided under sections 360.010 to 360.140, except that, forthe purpose of meeting the necessary expenses of initialorganization and operation until such date as the authorityderives moneys from funds provided hereunder. The authorityshall be empowered to borrow such moneys as may be required forthe necessary expenses of initial organization and operation.The borrowed moneys shall be repaid within a reasonable timeafter the authority receives funds as provided in sections360.010 to 360.140 and shall be repaid solely from such funds.

(L. 1975 H.B. 70 § 16)