HCS HB 1277 β- HIGHWAY INFRASTRUCTURE IMPROVEMENT AGREEMENTSJanuary 26th, 2012
FiledJanuary 26th, 2012This substitute allows the Missouri Highways and Transportation Commission within the Department of Transportation to enter into binding highway infrastructure improvement agreements with a county, political subdivision, or private entity for the construction or improvement of state highway infrastructure. An agreement may provide for the assignment of the commission's reimbursement or repayment obligations in order to facilitate the funding of the improvements. The funds advanced must be repaid by the commission from the State Road Fund in a manner, time period, and interest rate agreed to by the respective parties.