Organization and Activities (Rescinded August 30, 2010)

AUTHORITY: section 215.030(5), (12), and (19), RSMo 1986. Original rule filed Dec. 22, 1975, effective Jan. 1, 1976. Amended: Filed Dec. 16, 1985, effective March 24, 1986. Amended: Filed Dec. 30, 1987, effective March 25, 1988. Rescinded: Filed Feb. 11, 2010, effective Aug. 30, 2010. Op. Atty. Gen. No. 114, Salsich, 4-4-73. The Missouri Housing Development Commission, section 215.010, RSMo (1969), has the authority to make first mortgage loans for the construction of nonprofit facilities which will provide nursing home residential services for persons of low and moderate income who live on a permanent basis in such homes. Op. Atty. Gen. No. 319, Salsich, 7-14-71. The Missouri Housing Development Commission is not disabled from retaining as “managing underwriter” in the marketing of its bonds or notes a firm engaged in the underwriting and investment banking business, which has served as the commission’s financial adviser in the past and which proposes to render further services as financial adviser, without additional compensation, if selected as managing underwriter. Op. Atty. Gen. No. 140, Salsich, 7-6-71. Chapter 215, RSMo (1969) establishes the Missouri Housing Development Commission for a valid public purpose, that is, facilitating the provision of housing for persons and families of low and moderate income who are unable to obtain adequate housing through ordinary commercial means and that such legislation does not contravene any provision of the Missouri Constitution.