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MO HB2817
Bill
Status
3/15/2016
Primary Sponsor
Scott Fitzpatrick
Click for details
AI Summary
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Prohibits the Regional Convention and Sports Complex Authority from making new expenditures to improve, expand, build, or acquire facilities
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Bars the authority from entering new contracts, agreements, leases, or subleases with the state, counties, cities, or other political subdivisions after August 28, 2016
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Requires the authority to liquidate all assets by public auction on or before June 30, 2017, with proceeds distributed proportionally to pay outstanding debts and bonds
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Dissolves the authority upon full repayment of all debts and bonds, with remaining assets distributed 50% to Missouri, 25% to City of St. Louis, and 25% to St. Louis County
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Limits the authority's powers after August 28, 2016 to receiving lease payments for debt retirement and maintaining existing facilities until sold
Legislative Description
Limits the St. Louis Regional Convention and Sports Complex Authority's powers and dissolves the authority once it repays its debts
Last Action
Referred: Economic Development and Business Attraction and Retention(H)
5/13/2016