MO HB1769

Requires political corporations and subdivisions maintaining an "A" credit rating or higher to sell refunding general obligation bonds at public sale for at least 95% of par value, with interest not exceeding 14% per annum, and prohibits financial advisors from underwriting the issue.

Mandates competitive bidding for sales of general obligation bonds that are part of voter-approved issues authorizing more than $3 million, by entities with "A" or higher credit ratings (unless they retain an independent municipal advisor), awarding to the underwriter offering the lowest true interest cost.

Requires municipal advisors providing services to bond issuers to be independent of underwriters and defines municipal advisor as an individual or entity providing advice on structure, timing, terms, and related matters concerning bond issuance.

Authorizes the state treasurer to provide technical and advisory assistance to political corporations and subdivisions regarding bond issuance to minimize net interest costs, including advice on structuring, marketing, and training in debt management.

Establishes that entities with annual operating budgets exceeding $25 million may enter into derivative agreements (hedges, swaps, caps, floors, collars) for managing commodity costs and interest rate risk if they adopt a written policy consistent with Government Finance Officers Association standards.