360.046. Missouri college savings bonds, purpose, guidelines established by authority.
Missouri college savings bonds, purpose, guidelines established byauthority.
360.046. 1. Other provisions of law to the contrarynotwithstanding, whenever the authority issues its bonds, notesor other evidences of indebtedness pursuant to sections 360.010to 360.140, the authority may designate all or a portion of suchbonds, notes or other evidences of indebtedness as Missouricollege savings bonds.
2. Upon such designation, the authority may elect tostructure the terms of such Missouri college savings bonds inorder to effectuate the following purposes:
(1) To encourage Missouri residents to save for highereducation; and
(2) To encourage attendance at institutions of highereducation by providing tax exempt investment alternatives toenhance the same.
3. The authority is hereby authorized to establishguidelines for structuring the terms of and for marketing andeffecting the sale of any Missouri college savings bonds.
(L. 1988 H.B. 1456)