State Codes and Statutes
Statutes > Missouri > T08 > C108 > 108_933Bonds, principal and interest, how paid--repurchase, when--actionsby board of fund commissioners, procedure--governor's written consentrequired.
108.933. All bonds herein authorized to be issued shall be paid atmaturity and all interest accruing thereon shall be paid when it falls dueby the state treasurer, at a place designated in the bonds and coupons, ifany, attached. It shall be the duty of the board of fund commissioners todraw its requisition for the amount necessary to pay such interest on thebonds and the principal of maturing bonds and the necessary expenses to beincurred in transmitting such moneys. The commissioner of administrationshall certify the amount and shall issue his warrant upon the statetreasury payable out of the fourth state building bond and interest fund.The warrant shall be delivered to the state treasurer who shall transmitthe amount of money therein specified to the paying agents named in thebonds with instructions to place such money to the credit of the board offund commissioners for the payment of interest or principal of such bonds.Whenever in the opinion of the board of fund commissioners it is advisableto do so, and there are sufficient funds therefor, the board may redeem anyof the bonds before maturity if the holders thereof agree thereto, and mayalso purchase any of the bonds in the open market whenever funds areavailable and in the opinion of the board it is to the advantage of thestate to do so. Any action taken or proceedings had by the board of fundcommissioners with reference to the issuance of the bonds or any parthereof shall be by resolution adopted by a majority of all the members ofthe board, but no bonds shall be authorized to be sold under the provisionsof sections 108.925 to 108.933 without the written consent of the governorof this state.
(L. 1995 S.B. 21)Effective 2-9-95
