Revenue bonds--ordinance or resolutionauthorizing--contents--interest--maturity--signing--sale price.
250.080. 1. Revenue bonds authorized at an election held ashereinabove provided shall be issued by authority of an ordinanceadopted by the governing body of any such city, town or villageor of a resolution adopted by the governing body of any suchdistrict. Such ordinance or resolution shall recite that anestimate of the cost of the proposed acquisition, construction,improvement or extension has been made and shall set out suchestimated cost; it shall set out the amount of the bonds proposedto be issued, their purpose or purposes, their date or dates,denomination or denominations, rate or rates of interest, time ortimes of payment, both of principal and of interest, place orplaces of payment and all other details in connection with thebonds.
2. Any such bonds may be subject to such provision forredemption prior to maturity, with or without premium, and atsuch times and upon such conditions as may be provided by thegoverning body of the city, town or village or sewer district.
3. Such bonds shall bear interest at a rate in accordancewith section 108.170, RSMo, and shall mature over a period notexceeding thirty-five years from the date thereof. Any provisionof law to the contrary, notwithstanding, any and all bondsauthorized pursuant to this chapter shall possess all thequalities of negotiable instruments under the negotiableinstruments act.
4. Such bonds may be payable to bearer, may be registered orcoupon bonds and if payable to bearer may contain suchregistration privileges as to either principal and interest, orprincipal only, as may be provided in the ordinance or resolutionauthorizing such bonds.
5. Such bonds and the coupons to be attached thereto, ifany, shall be signed in such manner and by such officers as maybe directed by ordinance or resolution. Bonds signed by anofficer who shall hold the office at the time the bonds aresigned shall be deemed validly and effectually signed for allpurposes, regardless of whether or not any such officer shallcease to hold his office prior to the delivery of the bonds andregardless of whether or not any such officer shall have held orshall not have held such office on the date ascribed to suchbonds.
6. Any such bonds shall be sold in such manner and upon suchterms as the governing authority of the town, city or village orthe governing body of such sewer district shall determine, butsuch bonds shall not be sold for less than ninety cents on thedollar nor shall they be sold at such a price that the interestcost upon the actual proceeds of such bonds from the date thereofto their maturity shall exceed a rate in accordance with section108.170, RSMo. Such ordinance or resolution may provide thatcertain bonds authorized thereby shall be junior or subordinatein any or all respects to other revenue bonds authorizedconcurrently therewith or prior to or after such bonds.
Revenue bonds--ordinance or resolutionauthorizing--contents--interest--maturity--signing--sale price.
250.080. 1. Revenue bonds authorized at an election held ashereinabove provided shall be issued by authority of an ordinanceadopted by the governing body of any such city, town or villageor of a resolution adopted by the governing body of any suchdistrict. Such ordinance or resolution shall recite that anestimate of the cost of the proposed acquisition, construction,improvement or extension has been made and shall set out suchestimated cost; it shall set out the amount of the bonds proposedto be issued, their purpose or purposes, their date or dates,denomination or denominations, rate or rates of interest, time ortimes of payment, both of principal and of interest, place orplaces of payment and all other details in connection with thebonds.
2. Any such bonds may be subject to such provision forredemption prior to maturity, with or without premium, and atsuch times and upon such conditions as may be provided by thegoverning body of the city, town or village or sewer district.
3. Such bonds shall bear interest at a rate in accordancewith section 108.170, RSMo, and shall mature over a period notexceeding thirty-five years from the date thereof. Any provisionof law to the contrary, notwithstanding, any and all bondsauthorized pursuant to this chapter shall possess all thequalities of negotiable instruments under the negotiableinstruments act.
4. Such bonds may be payable to bearer, may be registered orcoupon bonds and if payable to bearer may contain suchregistration privileges as to either principal and interest, orprincipal only, as may be provided in the ordinance or resolutionauthorizing such bonds.
5. Such bonds and the coupons to be attached thereto, ifany, shall be signed in such manner and by such officers as maybe directed by ordinance or resolution. Bonds signed by anofficer who shall hold the office at the time the bonds aresigned shall be deemed validly and effectually signed for allpurposes, regardless of whether or not any such officer shallcease to hold his office prior to the delivery of the bonds andregardless of whether or not any such officer shall have held orshall not have held such office on the date ascribed to suchbonds.
6. Any such bonds shall be sold in such manner and upon suchterms as the governing authority of the town, city or village orthe governing body of such sewer district shall determine, butsuch bonds shall not be sold for less than ninety cents on thedollar nor shall they be sold at such a price that the interestcost upon the actual proceeds of such bonds from the date thereofto their maturity shall exceed a rate in accordance with section108.170, RSMo. Such ordinance or resolution may provide thatcertain bonds authorized thereby shall be junior or subordinatein any or all respects to other revenue bonds authorizedconcurrently therewith or prior to or after such bonds.
Revenue bonds--ordinance or resolutionauthorizing--contents--interest--maturity--signing--sale price.
250.080. 1. Revenue bonds authorized at an election held ashereinabove provided shall be issued by authority of an ordinanceadopted by the governing body of any such city, town or villageor of a resolution adopted by the governing body of any suchdistrict. Such ordinance or resolution shall recite that anestimate of the cost of the proposed acquisition, construction,improvement or extension has been made and shall set out suchestimated cost; it shall set out the amount of the bonds proposedto be issued, their purpose or purposes, their date or dates,denomination or denominations, rate or rates of interest, time ortimes of payment, both of principal and of interest, place orplaces of payment and all other details in connection with thebonds.
2. Any such bonds may be subject to such provision forredemption prior to maturity, with or without premium, and atsuch times and upon such conditions as may be provided by thegoverning body of the city, town or village or sewer district.
3. Such bonds shall bear interest at a rate in accordancewith section 108.170, RSMo, and shall mature over a period notexceeding thirty-five years from the date thereof. Any provisionof law to the contrary, notwithstanding, any and all bondsauthorized pursuant to this chapter shall possess all thequalities of negotiable instruments under the negotiableinstruments act.
4. Such bonds may be payable to bearer, may be registered orcoupon bonds and if payable to bearer may contain suchregistration privileges as to either principal and interest, orprincipal only, as may be provided in the ordinance or resolutionauthorizing such bonds.
5. Such bonds and the coupons to be attached thereto, ifany, shall be signed in such manner and by such officers as maybe directed by ordinance or resolution. Bonds signed by anofficer who shall hold the office at the time the bonds aresigned shall be deemed validly and effectually signed for allpurposes, regardless of whether or not any such officer shallcease to hold his office prior to the delivery of the bonds andregardless of whether or not any such officer shall have held orshall not have held such office on the date ascribed to suchbonds.
6. Any such bonds shall be sold in such manner and upon suchterms as the governing authority of the town, city or village orthe governing body of such sewer district shall determine, butsuch bonds shall not be sold for less than ninety cents on thedollar nor shall they be sold at such a price that the interestcost upon the actual proceeds of such bonds from the date thereofto their maturity shall exceed a rate in accordance with section108.170, RSMo. Such ordinance or resolution may provide thatcertain bonds authorized thereby shall be junior or subordinatein any or all respects to other revenue bonds authorizedconcurrently therewith or prior to or after such bonds.
