348.175. Investment powers and limitations of authority.
210 words·~1 min read·
/mo/chapter-348/348-175A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
348.175. Investment powers and limitations of authority. — The authority shall have the power, as necessary or convenient to carry out and effectuate the purposes and provisions of sections 348.005 to 348.180 , and subject to any agreement with bondholders or noteholders, to invest moneys of the authority, including proceeds form the sale of any bonds or notes, in:
(1)Direct obligations of or obligations guaranteed as to principal and interest by the United States government, or any agency thereof, or by the state of Missouri;
(2)Obligations issued by the Government National Mortgage Association, Bank for Cooperatives, Federal Intermediate Credit Banks, Federal Home Loan Bank System, or Federal Land Banks, or by the Federal National Mortgage Association;
(3)Negotiable or nonnegotiable certificates of deposit issued by any bank which is insured by the Federal Deposit Insurance Corporation, or its successor corporation, if then in existence;
(4)Any other obligations of this state or of the United States, or any agency or instrumentality of either, which may then be purchased with funds belonging to this state or held in the state treasury; or
(5)Such securities and deposit accounts as are permissible for the investment of state public funds by the state treasurer.
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(L. 1981 H.B. 681 § 38)