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15450 So. Outer Forty Rd.
Suite 230
Chesterfield, MO 63017
(636) 519-0700
(636) 519-0792 Fax
info@mohefa.org

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DIRECT DEPOSIT PROGRAM
    In 1995, the Missouri Legislature adopted Senate Bill No. 301 which sets forth the development of a program to assist Missouri school districts with their financing needs. The Direct Deposit Program, administered by the Authority, provides two principal benefits to school districts issuing general obligation bonds.
First, in an effort to improve the credit quality of all school districts in Missouri, the Program, effectively, provides for credit enhancement by authorizing the direct deposit, by the State of Missouri to a bank serving as trustee, of a portion of state aid payments that would otherwise be paid directly to the involved school district. The direct deposit amount is equal to debt service on the school district bonds. This procedure results in a credit rating in the second highest rating category (i.e. “AA+”), resulting in attractive interest rates on the bonds at no additional cost to the involved district or the State.















Missouri Health and Educational Facilities Authority
15450 South Outer Forty Rd., Suite 230, Chesterfield, MO 63017
(636) 519-0700   (636) 519-0792 Fax

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