238.330. 1. A corporation may at any time authorize orissue revenue bonds for the purpose of paying all or any part ofthe cost of any project. Every issue of such bonds shall bepayable out of the property and revenues of the corporation andmay be further secured by other property of the district whichmay be pledged, assigned, mortgaged, or a security interestgranted for such payment, without preference or priority of thefirst bonds issued, subject to any agreement with the holders ofany other bonds pledging any specified property or revenues.Such bonds shall be authorized by resolution of the corporationboard, and if issued by the corporation, shall bear such date ordates, and shall mature at such time or times, but not in excessof forty years, as the resolution shall specify. Such bondsshall be in such denomination, bear interest at such rate orrates, be in such form, either coupon or registered, be issuedas current interest bonds, compound interest bonds, variablerate bonds, convertible bonds, or zero coupon bonds, be issuedin such manner, be payable in such place or places and besubject to redemption as such resolution may providenotwithstanding the provisions of section 108.170, RSMo. Thebonds may be sold at either public or private sale, at suchinterest rates, and at such price or prices as the corporationshall determine.
2. Any issue of corporation bonds outstanding may berefunded at any time by the corporation by issuing its refundingbonds in such amount as the district may deem necessary. Suchbonds may not exceed the amount sufficient to refund theprincipal of the bonds so to be refunded together with anyunpaid interest thereon and any premiums, commissions, servicefees, and other expenses necessary to be paid in connection withthe refunding. Any such refunding may be effected whether thebonds to be refunded then shall have matured or thereafter shallmature, either by sale of the refunding bonds and theapplication of the proceeds thereof to the payment of the bondsbeing refunded or by the exchange of the refunding bonds for thebonds being refunded with the consent of the holder or holdersof the bonds being refunded. Refunding bonds may be issuedregardless of whether the bonds being refunded were issued inconnection with the same project or a separate project andregardless of whether or not the bonds proposed to be refundedshall be payable on the same date or different dates or shall beserially or otherwise.
3. The corporation may contract with the commission toassist it in issuing corporation revenue bonds and refundingbonds. The corporation may also contract with the commission toissue commission revenue bonds and refunding bonds and to loanthe proceeds thereof to the corporation. Such bonds shall beauthorized by commission minute and shall be issued subject toconditions applicable to bonds issued by the corporation but asdetermined by the commission rather than the corporation.
4. Bonds issued under this section shall exclusively be theresponsibility of the corporation payable solely out ofcorporation funds and property provided in sections 238.300 to238.360 and shall not constitute debt or liability of the stateof Missouri or any agency or political subdivision of the state.Neither the corporation nor the commission shall be obligated topay such bonds with any funds other than those specificallypledged to repayment of the bonds. Any such bonds issued by acorporation or the commission shall state on their face thatthey are not obligations of the state of Missouri or any agencyor political subdivision thereof.
5. Bonds issued under this section, the interest thereon,or any proceeds from such bonds, are exempt from taxation in thestate of Missouri for all purposes except the state estate tax.
238.330. 1. A corporation may at any time authorize orissue revenue bonds for the purpose of paying all or any part ofthe cost of any project. Every issue of such bonds shall bepayable out of the property and revenues of the corporation andmay be further secured by other property of the district whichmay be pledged, assigned, mortgaged, or a security interestgranted for such payment, without preference or priority of thefirst bonds issued, subject to any agreement with the holders ofany other bonds pledging any specified property or revenues.Such bonds shall be authorized by resolution of the corporationboard, and if issued by the corporation, shall bear such date ordates, and shall mature at such time or times, but not in excessof forty years, as the resolution shall specify. Such bondsshall be in such denomination, bear interest at such rate orrates, be in such form, either coupon or registered, be issuedas current interest bonds, compound interest bonds, variablerate bonds, convertible bonds, or zero coupon bonds, be issuedin such manner, be payable in such place or places and besubject to redemption as such resolution may providenotwithstanding the provisions of section 108.170, RSMo. Thebonds may be sold at either public or private sale, at suchinterest rates, and at such price or prices as the corporationshall determine.
2. Any issue of corporation bonds outstanding may berefunded at any time by the corporation by issuing its refundingbonds in such amount as the district may deem necessary. Suchbonds may not exceed the amount sufficient to refund theprincipal of the bonds so to be refunded together with anyunpaid interest thereon and any premiums, commissions, servicefees, and other expenses necessary to be paid in connection withthe refunding. Any such refunding may be effected whether thebonds to be refunded then shall have matured or thereafter shallmature, either by sale of the refunding bonds and theapplication of the proceeds thereof to the payment of the bondsbeing refunded or by the exchange of the refunding bonds for thebonds being refunded with the consent of the holder or holdersof the bonds being refunded. Refunding bonds may be issuedregardless of whether the bonds being refunded were issued inconnection with the same project or a separate project andregardless of whether or not the bonds proposed to be refundedshall be payable on the same date or different dates or shall beserially or otherwise.
3. The corporation may contract with the commission toassist it in issuing corporation revenue bonds and refundingbonds. The corporation may also contract with the commission toissue commission revenue bonds and refunding bonds and to loanthe proceeds thereof to the corporation. Such bonds shall beauthorized by commission minute and shall be issued subject toconditions applicable to bonds issued by the corporation but asdetermined by the commission rather than the corporation.
4. Bonds issued under this section shall exclusively be theresponsibility of the corporation payable solely out ofcorporation funds and property provided in sections 238.300 to238.360 and shall not constitute debt or liability of the stateof Missouri or any agency or political subdivision of the state.Neither the corporation nor the commission shall be obligated topay such bonds with any funds other than those specificallypledged to repayment of the bonds. Any such bonds issued by acorporation or the commission shall state on their face thatthey are not obligations of the state of Missouri or any agencyor political subdivision thereof.
5. Bonds issued under this section, the interest thereon,or any proceeds from such bonds, are exempt from taxation in thestate of Missouri for all purposes except the state estate tax.
238.330. 1. A corporation may at any time authorize orissue revenue bonds for the purpose of paying all or any part ofthe cost of any project. Every issue of such bonds shall bepayable out of the property and revenues of the corporation andmay be further secured by other property of the district whichmay be pledged, assigned, mortgaged, or a security interestgranted for such payment, without preference or priority of thefirst bonds issued, subject to any agreement with the holders ofany other bonds pledging any specified property or revenues.Such bonds shall be authorized by resolution of the corporationboard, and if issued by the corporation, shall bear such date ordates, and shall mature at such time or times, but not in excessof forty years, as the resolution shall specify. Such bondsshall be in such denomination, bear interest at such rate orrates, be in such form, either coupon or registered, be issuedas current interest bonds, compound interest bonds, variablerate bonds, convertible bonds, or zero coupon bonds, be issuedin such manner, be payable in such place or places and besubject to redemption as such resolution may providenotwithstanding the provisions of section 108.170, RSMo. Thebonds may be sold at either public or private sale, at suchinterest rates, and at such price or prices as the corporationshall determine.
2. Any issue of corporation bonds outstanding may berefunded at any time by the corporation by issuing its refundingbonds in such amount as the district may deem necessary. Suchbonds may not exceed the amount sufficient to refund theprincipal of the bonds so to be refunded together with anyunpaid interest thereon and any premiums, commissions, servicefees, and other expenses necessary to be paid in connection withthe refunding. Any such refunding may be effected whether thebonds to be refunded then shall have matured or thereafter shallmature, either by sale of the refunding bonds and theapplication of the proceeds thereof to the payment of the bondsbeing refunded or by the exchange of the refunding bonds for thebonds being refunded with the consent of the holder or holdersof the bonds being refunded. Refunding bonds may be issuedregardless of whether the bonds being refunded were issued inconnection with the same project or a separate project andregardless of whether or not the bonds proposed to be refundedshall be payable on the same date or different dates or shall beserially or otherwise.
3. The corporation may contract with the commission toassist it in issuing corporation revenue bonds and refundingbonds. The corporation may also contract with the commission toissue commission revenue bonds and refunding bonds and to loanthe proceeds thereof to the corporation. Such bonds shall beauthorized by commission minute and shall be issued subject toconditions applicable to bonds issued by the corporation but asdetermined by the commission rather than the corporation.
4. Bonds issued under this section shall exclusively be theresponsibility of the corporation payable solely out ofcorporation funds and property provided in sections 238.300 to238.360 and shall not constitute debt or liability of the stateof Missouri or any agency or political subdivision of the state.Neither the corporation nor the commission shall be obligated topay such bonds with any funds other than those specificallypledged to repayment of the bonds. Any such bonds issued by acorporation or the commission shall state on their face thatthey are not obligations of the state of Missouri or any agencyor political subdivision thereof.
5. Bonds issued under this section, the interest thereon,or any proceeds from such bonds, are exempt from taxation in thestate of Missouri for all purposes except the state estate tax.
