FIRST REGULAR SESSION

House Concurrent Resolution No. 25

91ST GENERAL ASSEMBLY



2117L.01I

Whereas, Section 21.527, RSMo, requires approval of the General Assembly that certain projects to be funded by revenue bonds shall be secured by a pledge of future appropriations to be made by the General Assembly; and



Whereas, the General Assembly is desirous of approving a project for a sports arena and related facilities for the University of Missouri-Columbia campus to be funded in part by revenue bonds secured by a pledge of future appropriations to be made by the General Assembly:



Now, therefore, be it resolved that the members of the House of Representatives of the Ninety-first General Assembly, First Regular Session, the Senate concurring therein, hereby approve the following:



1. A sports arena project and related facilities for the University of Missouri-Columbia campus;



2. A total estimated project cost, including furnishings and equipment, of seventy-five million dollars;



3. A maximum project cost of thirty-five million dollars (state's share) to be funded by revenue bonds secured by a pledge of future appropriations to be made by the General Assembly;



4. The issuance of revenue bonds in an amount sufficient to pay the state's share of the project cost, plus debt service reserve, capitalized interests and costs of issuance, to be payable over a term not to exceed twenty years; and



5. The remainder of the project cost to be funded by contributions and other funds to be provided by the University of Missouri; and



Be it further resolved that the members of the Missouri General Assembly state the intent of the General Assembly, during each fiscal year of the state during the term of such revenue bonds, to appropriate funds sufficient to pay the debt service on such revenue bonds; and



Be it further resolved that the members of the Missouri General Assembly authorize and direct the Office of Administration and such other state departments, offices and agencies as the Office of Administration may deem necessary or appropriate to:



1. Assist the staff and advisors of the University of Missouri in implementing the project and in issuing such revenue bonds for the state's share of the project cost; and



2. Execute and deliver documents and certificates related to such revenue bonds consistent with the terms of this concurrent resolution; and



Be it further resolved that this resolution be sent to the Governor for his approval or rejection pursuant to the Missouri Constitution.


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