SCS/HCS/HB 1904 - Under current law, section 177.088 currently places a 20-year limit on lease purchase agreements on the boards of educational institutions. This act increases the statutory limitation from 20 years to 25 years. Under current law, the Missouri Housing Development Commission may not have outstanding bonds or notes in an amount exceeding $200 million. The current statutory framework exempts several types of bonds and notes from this limitation. This legislative proposal provides that the $200 million limitation shall not apply to any conduit revenue bonds or notes of the commission in which the payment of debt service is the responsibility of an approved mortgagor. This language is contained in SB 1175 (2008).
STEPHEN WITTE