Missouri HB 2414: Prohibits the Bi-State Metropolitan Development District from expending moneys to fund any trolley system.

Bill Text

SECOND REGULAR SESSION
HOUSE BILL NO. 2414
100TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE CHAPPELLE-NADAL.
5163H.01I DANA RADEMAN MILLER, Chief Clerk
AN ACT
To repeal section 70.373, RSMo, and to enact in lieu thereof one new section relating to the bi-
state metropolitan district.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 70.373, RSMo, is repealed and one new section enacted in lieu
2 thereof, to be known as section 70.373, to read as follows:
70.373. 1. In further effectuation of that certain compact between the states of Missouri
2 and Illinois heretofore made and entered into on September 20, 1949, the bi-state development
3 agency, created by and under the aforesaid compact, is authorized to exercise the following
4 powers in addition to those heretofore expressly authorized by the aforesaid compact:
5 (1) To acquire by gift, purchase or lease, sell or otherwise dispose of, and to plan,
6 construct, operate and maintain, or lease to others for operation and maintenance, airports,
7 wharves, docks, harbors, and industrial parks adjacent to and necessary and convenient thereto,
8 bridges, tunnels, warehouses, grain elevators, commodity and other storage facilities, sewage
9 disposal plants, passenger transportation facilities, and air, water, rail, motor vehicle and other
10 terminal or parking facilities;
11 (2) To acquire by gift, purchase or lease; to plan, construct, operate, maintain, or lease
12 to or contract with others for operation and maintenance; or lease, sell or otherwise dispose of
13 to any person, firm or corporation, subject to such mortgage, pledge or other security
14 arrangements that the bi-state development agency may require, facilities for the receiving,
15 transferring, sorting, processing, treatment, storage, recovery and disposal of refuse or waste, and
16 facilities for the production, conversion, recovery, storage, use, or use and sale of refuse or waste
EXPLANATION — Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended
to be omitted from the law. Matter in bold-face type in the above bill is proposed language.

HB 2414 2
17 derived resources, fuel or energy and industrial parks adjacent to and necessary and convenient
18 thereto;
19 (3) To contract with municipalities or other political subdivisions for the services or use
20 of any facility owned or operated by the bi-state agency, or owned or operated by any such
21 municipality or other political subdivision;
22 (4) To borrow money for any of the authorized purposes of the bi-state development
23 agency and to issue the negotiable notes, bonds or other instruments in writing of the bi-state
24 development agency in evidence of the sum or sums to be borrowed;
25 (5) To issue negotiable refunding notes, bonds or other instruments in writing for the
26 purpose of refunding, extending or unifying the whole or any part of its valid indebtedness from
27 time to time outstanding, whether evidenced by notes, bonds or other instruments in writing;
28 (6) To provide that all negotiable notes, bonds or other instruments in writing issued
29 either pursuant to subdivision (4) or pursuant to subdivision (5) hereof shall be payable, both as
30 to principal and interest, out of the revenues collected for the use of any facility or combination
31 of facilities owned or operated or owned and operated by the bi-state development agency, or out
32 of any other resources of the bi-state development agency, and may be further secured by a
33 mortgage or deed of trust upon any property owned by the bi-state development agency. All
34 notes, bonds or other instruments in writing issued by the bi-state development agency as herein
35 provided shall mature in not to exceed forty years from the date thereof, shall bear interest at a
36 rate not exceeding fourteen percent per annum, and shall be sold for not less than ninety-five
37 percent of the par value thereof. The bi-state development agency shall have the power to
38 prescribe the details of such notes, bonds or other instruments in writing, and of the issuance and
39 sale thereof, and shall have power to enter into covenants with the holders of such notes, bonds
40 or other instruments in writing, not inconsistent with the powers herein granted to the bi-state
41 development agency, without further legislative authority;
42 (7) To condemn any and all rights or property, of any kind or character, necessary for the
43 purposes of the bi-state development agency, subject, however, to the provisions of the aforesaid
44 compact; provided, however, that no rights or property of any kind or character, now or hereafter
45 owned, leased, controlled, operated or used, in whole or in part, by any common carrier engaged
46 in interstate commerce or by any grain elevator, shall be taken or appropriated by the bi-state
47 development agency without first obtaining the written consent and approval of such