HCS/SB 1175 - Under this act, all offices of the Missouri Housing Development Commission shall be in Cole County. In addition, all employees of the commission shall maintain employment in Cole County. This directive becomes effective July 1, 2009.
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.