Missouri Revised Statutes













Chapter 108

Bond Issues, Miscellaneous Provisions

←108.933

Section 108.1000.1

108.1010→

August 28, 2015

Definitions--issuance of bonds, when--federal tax credits.

108.1000. 1. As used in sections 108.1000 to 108.1020, the following

terms mean:



(1) "Board", the Missouri development finance board;



(2) "Build America bonds", any bonds designated build America bonds

pursuant to Section 54AA of the Internal Revenue Code of 1986, as amended;



(3) "Department", the department of economic development;



(4) "Eligible issuer", any development agency as defined in section

100.255, or any board, commission, or body corporate and politic of the state

that is authorized to issue bonds under the constitution and laws of this

state;



(5) "Recovery zone bonds", any recovery zone economic development bonds

or recovery zone facility bonds that are allocated pursuant to Section

1400U-1 of the Internal Revenue Code of 1986, as amended.



2. The board may, at any time, issue build America bonds and recovery

zone bonds for the purpose of paying any part of the cost of financing any

qualifying project or projects, or part thereof, and for the purpose of

purchasing any debt related to such project. All bonds issued pursuant to

this subsection shall be subject to section 100.275. The board shall have

all necessary power to carry out the provisions of sections 108.1000 to

108.1020.



3. Any eligible issuer shall have the power to designate bonds as build

America bonds and recovery zone bonds subject to the provisions of law

governing the issuance of bonds by such issuer. The use of the proceeds of

such bonds and the sources of repayment of such bonds shall be subject to all

provisions of state and federal law governing such bonds. Prior to issuance

of any bonds by a state board or commission, all certifications and

assurances, under the provisions of Section 1511 of Part A of the American

Recovery and Reinvestment Act of 2009, Pub. L. No. 111-5, 123 Stat. 115

(2009), shall be made.



4. The issuance of build America bonds or recovery zone bonds may be

combined with any other economic development program offered by the state.



5. The board may buy, sell, and broker federal tax credits issued in

connection with build America bonds or recovery zone bonds.



(L. 2009 H.B. 191)







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