360.090. Authority to be self-supporting, exception.
150 words·~1 min read·
/mo/chapter-360/360-090A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
360.090. Authority to be self-supporting, exception. — All expenses of the authority incurred in carrying out the provisions of sections 360.010 to 360.140 shall be payable solely from funds provided under the provisions of sections 360.010 to 360.140 , and no liability shall be incurred by the authority beyond the extent to which moneys shall have been provided under sections 360.010 to 360.140 , except that, for the purpose of meeting the necessary expenses of initial organization and operation until such date as the authority derives moneys from funds provided hereunder.
The authority shall be empowered to borrow such moneys as may be required for the necessary expenses of initial organization and operation. The borrowed moneys shall be repaid within a reasonable time after the authority receives funds as provided in sections 360.010 to 360.140 and shall be repaid solely from such funds.
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(L. 1975 H.B. 70 § 16)