Officials Phone in MOHELA Deal

1 decade 2 years 3 months ago Wednesday, April 05 2006 Apr 5, 2006 Wednesday, April 05, 2006 1:06:41 PM CDT April 05, 2006 in News
Raymond Bayer is interim executive director of the non-profit Missouri Higher Education Loan Authority, MOHELA. The agency's board voted Jan. 31 to sell half its assets to raise $450 million. Gov. Blunt wants to use the money for construction and endowments at state universities. Board members approved the sale in minutes, with no discussion, Bayer said, because they knew the plan's details after calling him about the sale. He said the phone conversations were proper under Missouri law requiring public bodies to hold open meetings, including those by phone. A 1986 Missouri court ruling said violations occur only if meetings are kept secret in order to avoid the Sunshine Law.

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