Missouri Laws 348.080 – Duties of authority
The authority shall have the following duties:
(1) To invest any funds not needed for immediate disbursement, including any funds held in reserve, in direct and general obligations of or obligations fully and unconditionally guaranteed by the United States or any agency of the United States, obligations issued by agencies of the United States, obligations of this state, or any obligations or securities which may from time to time be legally purchased by political subdivisions of this state, or unsecured promissory notes of national banking associations having the highest investment rating;
Terms Used In Missouri Laws 348.080
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- United States: includes such district and territories. See Missouri Laws 1.020
(2) To collect fees and charges, as the authority determines to be reasonable, in connection with its loans, advances, insurance, commitments, and servicing;
(3) To cooperate with and exchange services, personnel, and information with any federal, state, or local governmental agency;
(4) To sell, at public or private sale, with or without public bidding, any loan or other obligation held by the authority; and
(5) To do any act necessary or convenient to the exercise of the powers granted by sections 348.005 to 348.180 or reasonably implied from the provisions of sections 348.005 to 348.180.