MO SB758

Repeals and reenacts section 70.373, RSMo, to expand powers of the bi-state development agency created under the Missouri-Illinois compact of September 20, 1949

Extends the maturity period for negotiable notes, bonds, and other instruments issued by the bi-state development agency from thirty years to forty years from the date of issuance

Maintains interest rate cap of fourteen percent per annum and minimum sale price of ninety-five percent of par value for all issued notes, bonds, and instruments

Authorizes the agency to acquire, construct, operate, and maintain facilities including airports, wharves, harbors, industrial parks, bridges, tunnels, warehouses, and transportation terminals

Grants the agency power to condemn property necessary for its purposes, subject to written consent of common carriers and grain elevators, with procedures varying by state (Illinois or Missouri) where property is located