Judges: JOHN ASHCROFT
Filed Date: 10/15/1984
Status: Precedential
Modified Date: 7/5/2016
Dear Dr. Aery:
This opinion is in response to your request as follows:
Is the Missouri Higher Education Loan Authority (MOHELA) authorized under the Higher Education Loan Authority Act, Sections
173.350 et seq. RSMo. Supp. 1983, to issue revenue bonds the interest on which is not exempt from taxation by the United States?
We understand that MOHELA is presently attempting to issue additional revenue bonds to refund its indebtedness on a tax-exempt basis. Such a refund will further MOHELA's mission of providing "eligible postsecondary education students . . . access to guaranteed student loans. . . ." Section
There can be no doubt but that MOHELA bonds are exempt from taxation under Missouri law. Section
MOHELA is a body politic and corporate. Section
Municipal corporations have only such powers as are expressly given them, reasonably implied in their grant of powers or essential to their declared purposes. The Supreme Court has stated:
It is a general and undisputed proposition of law that a municipal corporation possesses and can exercise the following powers, and no others: (1) Those granted in express words; (2) those necessarily or fairly implied in, or incident to, the powers expressly granted; (3) those essential to the declared objects and purposes of the corporation — not simply convenient, but indispensable. Any fair, reasonable doubt concerning the existence of power is resolved against the corporation, and the power is denied.
Taylor v. Dimmitt,
Section
The authority shall have the following powers, together will all powers incidental thereto or necessary to the performance thereof:
(1) To have perpetual succession as a body politic and corporate;
* * *
(6) To issue revenue bonds to obtain funds to purchase student loan notes which are guaranteed under sections
173.095 to173.180 , or under the provisions of the federal Higher Education Act of 1965, as amended. . . .
* * *
(15) To take any necessary actions to be qualified to issue tax-exempt bonds pursuant to the applicable provisions of the internal revenue code of 1954, as amended.
We have reviewed the statutory grants of authority to the Missouri Health and Educational Facilities Authority, Chapter 360 RSMo 1978 (as amended), the Missouri Housing Development Commission, Chapter 215 RSMo. 1978 (as amended), the Missouri Environmental Improvement Authority, Sections
Applying the maxim of statutory construction, "expressio unius est exclusio alterius" (express mention of one implies the exclusion of others), Harrison v. M.F.A. Mutual Ins. Co.,
Very truly yours,
JOHN ASHCROFT Attorney General
In State ex rel. Milham v. Rickhoff,
None of the cited cases provides guidance for analyzing the powers granted a body politic and corporate which is a "separate entity". We are convinced, however, that MOHELA's powers must be assessed against the standards provided for municipal corporations in that MOHELA performs an "essential public function". Section
Beiser Ex Rel. Beiser v. Parkway School District , 589 S.W.2d 277 ( 1979 )
City of Olivette v. Graeler , 338 S.W.2d 827 ( 1960 )
Harrison v. MFA Mutual Insurance Co. , 607 S.W.2d 137 ( 1980 )
City of Willow Springs v. Missouri State Librarian , 596 S.W.2d 441 ( 1980 )
Menorah Medical Center v. Health & Educational Facilities ... , 584 S.W.2d 73 ( 1979 )
State Ex Rel. Mitchell v. City of Sikeston , 555 S.W.2d 281 ( 1977 )