248.130. 1. If, in the judgment of the board of trustees,the construction of the whole or any part of the general planadopted is an urgent sanitary measure, and the means providedunder section 248.120 are insufficient to do the work as rapidlyas may, in the judgment of said board, be necessary, the saidboard may apply to the county commission or commissions havingjurisdiction for an order of said county commission orcommissions, authorizing the issue of bonds for the purpose ofanticipating the revenue of the sanitary district. Theapplication shall state the purpose, amount and all conditions ofthe proposed issue of bonds.
2. Said county commission shall have the power, in itsdiscretion, to authorize the issue of such bonds, provided thatthe total amount outstanding shall, at no time, exceed theanticipated revenue of the sanitary district for the ten yearsnext ensuing, computed on the basis of a levy of one-half of onepercent annually, upon the valuation for the year in which theauthority for issue is given. Bonds issued under the authorityof this chapter shall not run for a term exceeding twenty years,nor bear a higher rate of interest than six percent per annum.
3. When bonds are so issued and sold, the special fundbefore described, arising from tax collections, shall each yearfirst be charged with the interest falling due that year, andwith a proportion of the total amount of outstanding bonds,ascertained by dividing said total amount by the number of yearsthe bonds have to run, and the amount so ascertained shall be setapart as a sinking fund to provide for the payment of interest,and for the payment or purchase of said bonds.
4. The bonds issued under the authority of this chaptershall have a copy of this section and of the order of the countycommission printed on their back, and shall be registered in theoffice of the secretary of state of the state of Missouri.
5. The sinking fund above provided for shall each year bepaid into the treasury of the state, and payments therefrom forinterest and principal shall be made as provided in the case ofbonds payable by the state of Missouri.
6. The proceeds of bonds issued under the authority of thischapter shall be deposited with the treasurer of the city, andshall be a special fund, and be used for no purpose except thepayment of vouchers for work done or materials furnished for theconstruction of channels, drains and sewers.
7. In case of appeal from the action of the court applied toas above provided, the appeal shall be heard and determined as aprivileged case by the supreme court of the state of Missouri.
248.130. 1. If, in the judgment of the board of trustees,the construction of the whole or any part of the general planadopted is an urgent sanitary measure, and the means providedunder section 248.120 are insufficient to do the work as rapidlyas may, in the judgment of said board, be necessary, the saidboard may apply to the county commission or commissions havingjurisdiction for an order of said county commission orcommissions, authorizing the issue of bonds for the purpose ofanticipating the revenue of the sanitary district. Theapplication shall state the purpose, amount and all conditions ofthe proposed issue of bonds.
2. Said county commission shall have the power, in itsdiscretion, to authorize the issue of such bonds, provided thatthe total amount outstanding shall, at no time, exceed theanticipated revenue of the sanitary district for the ten yearsnext ensuing, computed on the basis of a levy of one-half of onepercent annually, upon the valuation for the year in which theauthority for issue is given. Bonds issued under the authorityof this chapter shall not run for a term exceeding twenty years,nor bear a higher rate of interest than six percent per annum.
3. When bonds are so issued and sold, the special fundbefore described, arising from tax collections, shall each yearfirst be charged with the interest falling due that year, andwith a proportion of the total amount of outstanding bonds,ascertained by dividing said total amount by the number of yearsthe bonds have to run, and the amount so ascertained shall be setapart as a sinking fund to provide for the payment of interest,and for the payment or purchase of said bonds.
4. The bonds issued under the authority of this chaptershall have a copy of this section and of the order of the countycommission printed on their back, and shall be registered in theoffice of the secretary of state of the state of Missouri.
5. The sinking fund above provided for shall each year bepaid into the treasury of the state, and payments therefrom forinterest and principal shall be made as provided in the case ofbonds payable by the state of Missouri.
6. The proceeds of bonds issued under the authority of thischapter shall be deposited with the treasurer of the city, andshall be a special fund, and be used for no purpose except thepayment of vouchers for work done or materials furnished for theconstruction of channels, drains and sewers.
7. In case of appeal from the action of the court applied toas above provided, the appeal shall be heard and determined as aprivileged case by the supreme court of the state of Missouri.
248.130. 1. If, in the judgment of the board of trustees,the construction of the whole or any part of the general planadopted is an urgent sanitary measure, and the means providedunder section 248.120 are insufficient to do the work as rapidlyas may, in the judgment of said board, be necessary, the saidboard may apply to the county commission or commissions havingjurisdiction for an order of said county commission orcommissions, authorizing the issue of bonds for the purpose ofanticipating the revenue of the sanitary district. Theapplication shall state the purpose, amount and all conditions ofthe proposed issue of bonds.
2. Said county commission shall have the power, in itsdiscretion, to authorize the issue of such bonds, provided thatthe total amount outstanding shall, at no time, exceed theanticipated revenue of the sanitary district for the ten yearsnext ensuing, computed on the basis of a levy of one-half of onepercent annually, upon the valuation for the year in which theauthority for issue is given. Bonds issued under the authorityof this chapter shall not run for a term exceeding twenty years,nor bear a higher rate of interest than six percent per annum.
3. When bonds are so issued and sold, the special fundbefore described, arising from tax collections, shall each yearfirst be charged with the interest falling due that year, andwith a proportion of the total amount of outstanding bonds,ascertained by dividing said total amount by the number of yearsthe bonds have to run, and the amount so ascertained shall be setapart as a sinking fund to provide for the payment of interest,and for the payment or purchase of said bonds.
4. The bonds issued under the authority of this chaptershall have a copy of this section and of the order of the countycommission printed on their back, and shall be registered in theoffice of the secretary of state of the state of Missouri.
5. The sinking fund above provided for shall each year bepaid into the treasury of the state, and payments therefrom forinterest and principal shall be made as provided in the case ofbonds payable by the state of Missouri.
6. The proceeds of bonds issued under the authority of thischapter shall be deposited with the treasurer of the city, andshall be a special fund, and be used for no purpose except thepayment of vouchers for work done or materials furnished for theconstruction of channels, drains and sewers.
7. In case of appeal from the action of the court applied toas above provided, the appeal shall be heard and determined as aprivileged case by the supreme court of the state of Missouri.
