184.860. 1. A district may at any time authorize or issue revenuebonds for the purpose of paying all or any part of the cost of any project.Every issue of such bonds shall be payable out of the revenues of thedistrict and may be further secured by other property of the district whichmay be pledged, assigned, mortgaged, or a security interest granted forsuch payment, without preference or priority of the first bonds issued,subject to any agreement with the holders of any other bonds pledging anyspecified property or revenues. Such bonds shall be authorized byresolution of the board of the district, and if issued by the district,shall bear such date or dates, and shall mature at such time or times, butnot in excess of forty years, as the resolution shall specify. Such bondsshall be in such denomination, bear interest at such rate or rates, be insuch form, either coupon or registered, be issued as current interestbonds, compound interest bonds, variable rate bonds, convertible bonds, orzero coupon bonds, be issued in such manner, be payable in such place orplaces and subject to redemption as such resolution may providenotwithstanding the provisions of section 108.170, RSMo. The bonds may besold at either public or private sale, at such interest rates, and at suchprice or prices as the district shall determine.
2. Any issue of district bonds outstanding may be refunded at anytime by the district by issuing its refunding bonds in such amount as thedistrict may deem necessary. Such bonds may not exceed the amountsufficient to refund the principal of the bonds so to be refunded togetherwith any unpaid interest thereon and any premiums, commissions, servicefees, and other expenses necessary to be paid in connection with therefunding. Any such refunding may be effected whether the bonds to berefunded then shall have matured or thereafter shall mature, either by saleof the refunding bonds and the application of the proceeds thereof to thepayment of the bonds being refunded or by the exchange of the refundingbonds for the bonds being refunded with the consent of the holder orholders of the bonds being refunded. Refunding bonds may be issuedregardless of whether the bonds being refunded were issued in connectionwith the same project or a separate project and regardless of whether thebonds proposed to be refunded shall be payable on the same date ordifferent date or shall be due serially or otherwise.
3. Bonds issued pursuant to this section shall exclusively be theresponsibility of the district and shall not constitute a debt or liabilityof the state of Missouri or any agency or political subdivision of thestate other than the district. The district shall not be obligated to paysuch bonds with any funds other than those specifically pledged torepayment of the bonds. Any bonds issued by a district shall state ontheir face that they are not obligations of the state of Missouri or anyagency or political subdivision thereof other than the district.
4. Bonds issued pursuant to this section, the interest thereon, orany proceeds from such bonds shall be exempt from taxation in the state ofMissouri for all purposes except the state estate tax.
184.860. 1. A district may at any time authorize or issue revenuebonds for the purpose of paying all or any part of the cost of any project.Every issue of such bonds shall be payable out of the revenues of thedistrict and may be further secured by other property of the district whichmay be pledged, assigned, mortgaged, or a security interest granted forsuch payment, without preference or priority of the first bonds issued,subject to any agreement with the holders of any other bonds pledging anyspecified property or revenues. Such bonds shall be authorized byresolution of the board of the district, and if issued by the district,shall bear such date or dates, and shall mature at such time or times, butnot in excess of forty years, as the resolution shall specify. Such bondsshall be in such denomination, bear interest at such rate or rates, be insuch form, either coupon or registered, be issued as current interestbonds, compound interest bonds, variable rate bonds, convertible bonds, orzero coupon bonds, be issued in such manner, be payable in such place orplaces and subject to redemption as such resolution may providenotwithstanding the provisions of section 108.170, RSMo. The bonds may besold at either public or private sale, at such interest rates, and at suchprice or prices as the district shall determine.
2. Any issue of district bonds outstanding may be refunded at anytime by the district by issuing its refunding bonds in such amount as thedistrict may deem necessary. Such bonds may not exceed the amountsufficient to refund the principal of the bonds so to be refunded togetherwith any unpaid interest thereon and any premiums, commissions, servicefees, and other expenses necessary to be paid in connection with therefunding. Any such refunding may be effected whether the bonds to berefunded then shall have matured or thereafter shall mature, either by saleof the refunding bonds and the application of the proceeds thereof to thepayment of the bonds being refunded or by the exchange of the refundingbonds for the bonds being refunded with the consent of the holder orholders of the bonds being refunded. Refunding bonds may be issuedregardless of whether the bonds being refunded were issued in connectionwith the same project or a separate project and regardless of whether thebonds proposed to be refunded shall be payable on the same date ordifferent date or shall be due serially or otherwise.
3. Bonds issued pursuant to this section shall exclusively be theresponsibility of the district and shall not constitute a debt or liabilityof the state of Missouri or any agency or political subdivision of thestate other than the district. The district shall not be obligated to paysuch bonds with any funds other than those specifically pledged torepayment of the bonds. Any bonds issued by a district shall state ontheir face that they are not obligations of the state of Missouri or anyagency or political subdivision thereof other than the district.
4. Bonds issued pursuant to this section, the interest thereon, orany proceeds from such bonds shall be exempt from taxation in the state ofMissouri for all purposes except the state estate tax.
184.860. 1. A district may at any time authorize or issue revenuebonds for the purpose of paying all or any part of the cost of any project.Every issue of such bonds shall be payable out of the revenues of thedistrict and may be further secured by other property of the district whichmay be pledged, assigned, mortgaged, or a security interest granted forsuch payment, without preference or priority of the first bonds issued,subject to any agreement with the holders of any other bonds pledging anyspecified property or revenues. Such bonds shall be authorized byresolution of the board of the district, and if issued by the district,shall bear such date or dates, and shall mature at such time or times, butnot in excess of forty years, as the resolution shall specify. Such bondsshall be in such denomination, bear interest at such rate or rates, be insuch form, either coupon or registered, be issued as current interestbonds, compound interest bonds, variable rate bonds, convertible bonds, orzero coupon bonds, be issued in such manner, be payable in such place orplaces and subject to redemption as such resolution may providenotwithstanding the provisions of section 108.170, RSMo. The bonds may besold at either public or private sale, at such interest rates, and at suchprice or prices as the district shall determine.
2. Any issue of district bonds outstanding may be refunded at anytime by the district by issuing its refunding bonds in such amount as thedistrict may deem necessary. Such bonds may not exceed the amountsufficient to refund the principal of the bonds so to be refunded togetherwith any unpaid interest thereon and any premiums, commissions, servicefees, and other expenses necessary to be paid in connection with therefunding. Any such refunding may be effected whether the bonds to berefunded then shall have matured or thereafter shall mature, either by saleof the refunding bonds and the application of the proceeds thereof to thepayment of the bonds being refunded or by the exchange of the refundingbonds for the bonds being refunded with the consent of the holder orholders of the bonds being refunded. Refunding bonds may be issuedregardless of whether the bonds being refunded were issued in connectionwith the same project or a separate project and regardless of whether thebonds proposed to be refunded shall be payable on the same date ordifferent date or shall be due serially or otherwise.
3. Bonds issued pursuant to this section shall exclusively be theresponsibility of the district and shall not constitute a debt or liabilityof the state of Missouri or any agency or political subdivision of thestate other than the district. The district shall not be obligated to paysuch bonds with any funds other than those specifically pledged torepayment of the bonds. Any bonds issued by a district shall state ontheir face that they are not obligations of the state of Missouri or anyagency or political subdivision thereof other than the district.
4. Bonds issued pursuant to this section, the interest thereon, orany proceeds from such bonds shall be exempt from taxation in the state ofMissouri for all purposes except the state estate tax.
