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MO HB414
Bill
Status
1/31/2013
Primary Sponsor
Chris Kelly
Click for details
AI Summary
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Repeals and reenacts section 8.420, RSMo, governing revenue bonds for public projects issued by the Board of Public Buildings
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Maintains existing bond provisions including interest rate cap of 15 percent per annum, maturity limits of 40 years, and minimum sale price of 98 percent of par value plus accrued interest
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Establishes total par value limit of $775 million for all revenue bonds issued for projects under sections 8.370 to 8.450
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Requires approval by a majority of house and senate members of the Committee on Legislative Research for any project bond issuance, treating all energy retrofitting bonds as a single project
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Requires General Assembly approval by concurrent resolution for all bond issuances except for refunding of existing debt
Legislative Description
Requires approval by the General Assembly before the Board of Public Buildings may issue revenue bonds for state office building projects, except for refunding of existing debt
Last Action
HCS Voted Do Pass (H)
3/27/2013