Bonds to be certified by state auditor--validity--defenses.
108.240. 1. Before any general obligation bearer bond or generalobligation registered bond, hereafter issued by any county, township, city,town, village or school district or special road district or fireprotection district or by virtue of the provisions of chapters 243, 245,248, and sections 242.010 to 242.690, RSMo, for any purpose whatever, shallobtain validity or be negotiated:
(1) If such bonds are in bearer form, such bonds shall first bepresented to the state auditor, who, other provisions of lawnotwithstanding, shall certify by manual or facsimile endorsement of suchbonds that all conditions of the laws have been complied with in its issue,if that be the case, and also that the conditions of the contract, underwhich they were ordered to be issued, have also been complied with and theevidence of that fact shall be filed and preserved by the auditor. Thestate auditor may endorse bearer bonds with the auditor's facsimilesignature in lieu of manual signature after filing the auditor's manualsignature, certified by the auditor under oath, with the secretary ofstate; and
(2) If such bonds are in registered form, the proceedings relating tothe issuance of such registered bonds shall first be presented to the stateauditor, who shall examine the same and shall issue a certificate that suchproceedings comply with all conditions of the laws, if that be the case,and also that the conditions of the contract, under which they were orderedto be issued, have also been complied with, and the evidence of these factsshall be filed and preserved by the auditor. The state auditor shall alsomaintain the following information: the name of the issuer of the bonds;the amount thereof; the maturity dates thereof; the interest rates thereon;and the provisions with respect to prepayment, if any.
2. Such bearer bonds after receiving the said certificate of theauditor as herein provided and such registered bonds after the issuance ofthe said certificate as herein provided shall thereafter be held in everyaction, suit or proceeding in which their validity is, or may be, broughtinto question, prima facie, valid and binding obligations, and in everyaction brought to enforce collection of such bonds, the certificate of suchauditor, or a duly certified copy thereof, shall be admitted and receivedin evidence of the validity of such bonds, together with the couponsthereto attached if any; provided, the only defense which can be offeredagainst the validity of such bonds shall be for forgery or fraud. But thissection shall not be construed to give validity to any such bonds as may beissued in excess of the limit fixed by the constitution, or contrary to itsprovisions, but all such bonds shall, to the extent of such excess, be heldvoid; and provided further, that the remedy of injunction shall also lie atthe instance of any taxpayer of the respective county, city, town, village,township or school district or special road district or fire protectiondistrict or drainage district or levy district to prevent the registrationof any bonds, alleged to be illegally issued or funded.
Bonds to be certified by state auditor--validity--defenses.
108.240. 1. Before any general obligation bearer bond or generalobligation registered bond, hereafter issued by any county, township, city,town, village or school district or special road district or fireprotection district or by virtue of the provisions of chapters 243, 245,248, and sections 242.010 to 242.690, RSMo, for any purpose whatever, shallobtain validity or be negotiated:
(1) If such bonds are in bearer form, such bonds shall first bepresented to the state auditor, who, other provisions of lawnotwithstanding, shall certify by manual or facsimile endorsement of suchbonds that all conditions of the laws have been complied with in its issue,if that be the case, and also that the conditions of the contract, underwhich they were ordered to be issued, have also been complied with and theevidence of that fact shall be filed and preserved by the auditor. Thestate auditor may endorse bearer bonds with the auditor's facsimilesignature in lieu of manual signature after filing the auditor's manualsignature, certified by the auditor under oath, with the secretary ofstate; and
(2) If such bonds are in registered form, the proceedings relating tothe issuance of such registered bonds shall first be presented to the stateauditor, who shall examine the same and shall issue a certificate that suchproceedings comply with all conditions of the laws, if that be the case,and also that the conditions of the contract, under which they were orderedto be issued, have also been complied with, and the evidence of these factsshall be filed and preserved by the auditor. The state auditor shall alsomaintain the following information: the name of the issuer of the bonds;the amount thereof; the maturity dates thereof; the interest rates thereon;and the provisions with respect to prepayment, if any.
2. Such bearer bonds after receiving the said certificate of theauditor as herein provided and such registered bonds after the issuance ofthe said certificate as herein provided shall thereafter be held in everyaction, suit or proceeding in which their validity is, or may be, broughtinto question, prima facie, valid and binding obligations, and in everyaction brought to enforce collection of such bonds, the certificate of suchauditor, or a duly certified copy thereof, shall be admitted and receivedin evidence of the validity of such bonds, together with the couponsthereto attached if any; provided, the only defense which can be offeredagainst the validity of such bonds shall be for forgery or fraud. But thissection shall not be construed to give validity to any such bonds as may beissued in excess of the limit fixed by the constitution, or contrary to itsprovisions, but all such bonds shall, to the extent of such excess, be heldvoid; and provided further, that the remedy of injunction shall also lie atthe instance of any taxpayer of the respective county, city, town, village,township or school district or special road district or fire protectiondistrict or drainage district or levy district to prevent the registrationof any bonds, alleged to be illegally issued or funded.
Bonds to be certified by state auditor--validity--defenses.
108.240. 1. Before any general obligation bearer bond or generalobligation registered bond, hereafter issued by any county, township, city,town, village or school district or special road district or fireprotection district or by virtue of the provisions of chapters 243, 245,248, and sections 242.010 to 242.690, RSMo, for any purpose whatever, shallobtain validity or be negotiated:
(1) If such bonds are in bearer form, such bonds shall first bepresented to the state auditor, who, other provisions of lawnotwithstanding, shall certify by manual or facsimile endorsement of suchbonds that all conditions of the laws have been complied with in its issue,if that be the case, and also that the conditions of the contract, underwhich they were ordered to be issued, have also been complied with and theevidence of that fact shall be filed and preserved by the auditor. Thestate auditor may endorse bearer bonds with the auditor's facsimilesignature in lieu of manual signature after filing the auditor's manualsignature, certified by the auditor under oath, with the secretary ofstate; and
(2) If such bonds are in registered form, the proceedings relating tothe issuance of such registered bonds shall first be presented to the stateauditor, who shall examine the same and shall issue a certificate that suchproceedings comply with all conditions of the laws, if that be the case,and also that the conditions of the contract, under which they were orderedto be issued, have also been complied with, and the evidence of these factsshall be filed and preserved by the auditor. The state auditor shall alsomaintain the following information: the name of the issuer of the bonds;the amount thereof; the maturity dates thereof; the interest rates thereon;and the provisions with respect to prepayment, if any.
2. Such bearer bonds after receiving the said certificate of theauditor as herein provided and such registered bonds after the issuance ofthe said certificate as herein provided shall thereafter be held in everyaction, suit or proceeding in which their validity is, or may be, broughtinto question, prima facie, valid and binding obligations, and in everyaction brought to enforce collection of such bonds, the certificate of suchauditor, or a duly certified copy thereof, shall be admitted and receivedin evidence of the validity of such bonds, together with the couponsthereto attached if any; provided, the only defense which can be offeredagainst the validity of such bonds shall be for forgery or fraud. But thissection shall not be construed to give validity to any such bonds as may beissued in excess of the limit fixed by the constitution, or contrary to itsprovisions, but all such bonds shall, to the extent of such excess, be heldvoid; and provided further, that the remedy of injunction shall also lie atthe instance of any taxpayer of the respective county, city, town, village,township or school district or special road district or fire protectiondistrict or drainage district or levy district to prevent the registrationof any bonds, alleged to be illegally issued or funded.
