In 1995, the Missouri Legislature adopted Senate Bill 301, which directs the Health and Educational Facilities Authority of the State of Missouri to assist school districts in the issuance of general obligation bonds. The law charges the Authority with developing guidelines for and administering two voluntary methods relating to the issuance of…

The authors, after discussing the St. Louis school system and its financial history, survey both traditional and innovative construction finance alternatives that have been used across the country. These alternatives, which fall into two categories, include: (1) conventional financing through tax incomes including State and Federal aid, and (2)…