Section 108.510

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS

Chapter 108

Effective - 28 Aug 1995   

  108.510.  Allocation application, form — criteria for consideration of approval by director — rules, promulgation, procedure. — 1.  Prior to any issuance of any private activity bonds, all issuers, whether state or local, shall first make a request for an allocation by filing a signed application for each project with the director in the form prescribed by the director.  Such applications for allocations shall be considered by the director in accordance with the provisions of sections 108.500 to 108.532 and, in making such allocations, the director shall consider the economic development objectives of the state, including:

  (1)  The mobility of the project for which the allocation is being sought, including the ability of the prospective beneficiary of the allocation to locate the project in a state other than Missouri;

  (2)  The potential impact of the project upon existing businesses in the local market;

  (3)  The type of project or financing for which the allocation is sought;

  (4)  The number of persons, families or businesses which would benefit from the proposed project or financing.  

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The director may in his discretion, promulgate rules or regulations to be followed in considering such applications for allocations of the state ceiling.

  2.  No rule or portion of a rule promulgated under the authority of sections 108.500 to 108.532 shall become effective unless it has been promulgated pursuant to the provisions of section 536.024.

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(L. 1987 S.B. 351 § 108.507, A.L. 1993 S.B. 52, A.L. 1995 S.B. 3)