360.046.  Missouri college savings bonds, purpose, guidelines established by authority. — 1.  Other provisions of law to the contrary notwithstanding, whenever the authority issues its bonds, notes or other evidences of indebtedness pursuant to sections 360.010 to 360.140, the authority may designate all or a portion of such bonds, notes or other evidences of indebtedness as Missouri college savings bonds.

  2.  Upon such designation, the authority may elect to structure the terms of such Missouri college savings bonds in order to effectuate the following purposes:

  (1)  To encourage Missouri residents to save for higher education; and

  (2)  To encourage attendance at institutions of higher education by providing tax exempt investment alternatives to enhance the same.

  3.  The authority is hereby authorized to establish guidelines for structuring the terms of and for marketing and effecting the sale of any Missouri college savings bonds.