Board of fund commissioners and board of public buildings,additional authority.
33.305. 1. "Public entity", as used in this section, shall mean theboard of fund commissioners of the state and the state board of publicbuildings.
2. Any public entity as defined in subsection 1 of this section may:
(1) Execute and perform any obligations under any instruments,contracts, or agreements convenient or necessary to incur obligations withinterest calculated at a fixed or variable rate, provided that no more thantwenty percent of the debt of the public entity to be outstanding on theday after the issuance of any variable rate debt shall be variable ratedebt; and
(2) Obtain without any requirement for bidding, but with compliancewith the public entity's policies, credit enhancement or other financingarrangements and execute and perform any obligations under any relatedcontracts and agreements convenient or necessary to facilitate suchenhancement or financing arrangements including but not limited toarrangements such as municipal bond insurance; surety bonds; liquidityfacilities; forward agreements; tender agreements; remarketing agreements;option agreements; interest rate swap, exchange, cap, lock or flooragreements; letters of credit; and purchase agreements.
3. All financial arrangements entered into under the provisions ofthis section shall be fully enforceable as valid and binding contracts asand to the extent provided herein and by other applicable law.
4. Nothing in this section shall be applied or interpreted todiminish the power any public entity may otherwise have under any otherprovisions of law.
Board of fund commissioners and board of public buildings,additional authority.
33.305. 1. "Public entity", as used in this section, shall mean theboard of fund commissioners of the state and the state board of publicbuildings.
2. Any public entity as defined in subsection 1 of this section may:
(1) Execute and perform any obligations under any instruments,contracts, or agreements convenient or necessary to incur obligations withinterest calculated at a fixed or variable rate, provided that no more thantwenty percent of the debt of the public entity to be outstanding on theday after the issuance of any variable rate debt shall be variable ratedebt; and
(2) Obtain without any requirement for bidding, but with compliancewith the public entity's policies, credit enhancement or other financingarrangements and execute and perform any obligations under any relatedcontracts and agreements convenient or necessary to facilitate suchenhancement or financing arrangements including but not limited toarrangements such as municipal bond insurance; surety bonds; liquidityfacilities; forward agreements; tender agreements; remarketing agreements;option agreements; interest rate swap, exchange, cap, lock or flooragreements; letters of credit; and purchase agreements.
3. All financial arrangements entered into under the provisions ofthis section shall be fully enforceable as valid and binding contracts asand to the extent provided herein and by other applicable law.
4. Nothing in this section shall be applied or interpreted todiminish the power any public entity may otherwise have under any otherprovisions of law.
Board of fund commissioners and board of public buildings,additional authority.
33.305. 1. "Public entity", as used in this section, shall mean theboard of fund commissioners of the state and the state board of publicbuildings.
2. Any public entity as defined in subsection 1 of this section may:
(1) Execute and perform any obligations under any instruments,contracts, or agreements convenient or necessary to incur obligations withinterest calculated at a fixed or variable rate, provided that no more thantwenty percent of the debt of the public entity to be outstanding on theday after the issuance of any variable rate debt shall be variable ratedebt; and
(2) Obtain without any requirement for bidding, but with compliancewith the public entity's policies, credit enhancement or other financingarrangements and execute and perform any obligations under any relatedcontracts and agreements convenient or necessary to facilitate suchenhancement or financing arrangements including but not limited toarrangements such as municipal bond insurance; surety bonds; liquidityfacilities; forward agreements; tender agreements; remarketing agreements;option agreements; interest rate swap, exchange, cap, lock or flooragreements; letters of credit; and purchase agreements.
3. All financial arrangements entered into under the provisions ofthis section shall be fully enforceable as valid and binding contracts asand to the extent provided herein and by other applicable law.
4. Nothing in this section shall be applied or interpreted todiminish the power any public entity may otherwise have under any otherprovisions of law.
