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MO HB1709

Bill

Official Source

Status

Introduced

1/19/2010

Primary Sponsor

Mike Leara

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Extends the maximum maturity period for negotiable notes, bonds, or other instruments issued by the bi-state development agency from 30 years to 40 years from the date of issuance
  • Maintains the existing interest rate cap of 14 percent per annum on such instruments
  • Maintains the existing requirement that bonds be sold for no less than 95 percent of par value
  • Applies to bonds issued under the Missouri-Illinois compact of September 20, 1949, governing the bi-state development agency

Legislative Description

Extends from 30 to 40 years the time period in which bonds issued by the Bi-State Development Agency must mature

Last Action

Voted Do Pass (H)

3/3/2010

Committee Referrals

Financial Institutions2/3/2010

Full Bill Text

No bill text available