Missouri § 360.050 Authority must act as lessor only — term of lease — rentals, how set.

Missouri Statutes

§ 360.050 — Authority must act as lessor only — term of lease — rentals, how set.

Missouri § 360.050

Title XXIIICORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Ch. 360Missouri Health and Educational Facilities Act

This text of Missouri § 360.050 (Authority must act as lessor only — term of lease — rentals, how set.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 360.050 (2026).

Text

The authority shall not have the power to operate any facility or facilities as a business other than as a lessor.  Any lease of any facility or facilities entered into pursuant to the provisions of sections 360.010 to 360.140 shall be for a term not shorter than the longest maturity of any bonds issued to finance the facility or facilities or a portion thereof and shall provide for rentals adequate to pay the principal of and interest on the bonds as the same fall due and to create and maintain such reserves and accounts for depreciation as the authority shall determine to be necessary.

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The authority shall not have the power to operate any facility or facilities as a business other than as a lessor. Any lease of any facility or facilities entered into pursuant to the provisions of sections 360.010 to 360.140 shall be for a term not shorter than the longest maturity of any bonds issued to finance the facility or facilities or a portion thereof and shall provide for rentals adequate to pay the principal of and interest on the bonds as the same fall due and to create and maintain such reserves and accounts for depreciation as the authority shall determine to be necessary.