Issuance of bonds, purpose--refunding--interest exempt from statetaxation.
251.630. 1. A regional economic development district may at any timeauthorize or issue revenue bonds for the purpose of paying all or any partof the cost of any regional economic development project. Every issue ofsuch bonds shall be payable out of the revenues of the regional economicdevelopment district and may be further secured by other property of theregional economic development district which may be pledged, assigned,mortgaged, or a security interest granted for such payment, withoutpreference or priority of the first bonds issued, subject to any agreementwith the holders of any other bonds pledging any specified property orrevenues. Such bonds shall be authorized by resolution of the regionaleconomic development district, and if issued by the regional economicdevelopment district, shall bear such date or dates and shall mature atsuch time or times, but not in excess of twenty-five years, as theresolution shall specify. Such bonds shall be in such denomination, bearinterest at such rate or rates, be in such form, either coupon orregistered, be issued as current interest bonds, compound interest bonds,variable rate bonds, convertible bonds, or zero coupon bonds, be issued insuch manner, be payable in such place or places, and subject to redemptionas such resolution may provide notwithstanding the provisions of section108.170, RSMo. The bonds may be sold at either public or private sale atsuch interest rates, and at such price or prices as the regional economicdevelopment district board shall determine.
2. Any issue of regional economic development district bondsoutstanding may be refunded at any time by the regional economicdevelopment district by issuing its refunding bonds in such amount as theregional economic development district may deem necessary. Such bonds maynot exceed the amount sufficient to refund the principal of the bonds to berefunded together with any unpaid interest thereon and any premiums,commissions, service fees, and other expenses necessary to be paid inconnection with the refunding. Any such refunding may be effected whetherthe bonds to be refunded then shall have matured or thereafter shallmature, either by sale of the refunding bonds and the application of theproceeds thereof to the payment of the bonds being refunded or by theexchange of the refunding bonds for the bonds being refunded with theconsent of the holder or holders of the bonds being refunded. Refundingbonds may be issued regardless of whether the bonds being refunded wereissued in connection with the same project or a separate project andregardless of whether the bonds proposed to be refunded shall be payable onthe same date or different dates or shall be due serially or otherwise.
3. Bonds issued under this section shall exclusively be theresponsibility of the regional economic development district payable solelyout of regional economic development district funds and property asprovided in the regional economic development district law and shall notconstitute a debt or liability of the state of Missouri or any agency orpolitical subdivision of the state. The regional economic developmentdistrict shall not be obligated to pay such bonds with any funds other thanthose specifically pledged to repayment of the bonds. Any bonds issued bya regional economic development district shall state on their face thatthey are not obligations of the state of Missouri or any agency orpolitical subdivision thereof other than the regional economic developmentdistrict.
4. Bonds issued under this section, the interest thereon, or anyproceeds from such bonds shall be exempt from taxation in the state ofMissouri.
Issuance of bonds, purpose--refunding--interest exempt from statetaxation.
251.630. 1. A regional economic development district may at any timeauthorize or issue revenue bonds for the purpose of paying all or any partof the cost of any regional economic development project. Every issue ofsuch bonds shall be payable out of the revenues of the regional economicdevelopment district and may be further secured by other property of theregional economic development district which may be pledged, assigned,mortgaged, or a security interest granted for such payment, withoutpreference or priority of the first bonds issued, subject to any agreementwith the holders of any other bonds pledging any specified property orrevenues. Such bonds shall be authorized by resolution of the regionaleconomic development district, and if issued by the regional economicdevelopment district, shall bear such date or dates and shall mature atsuch time or times, but not in excess of twenty-five years, as theresolution shall specify. Such bonds shall be in such denomination, bearinterest at such rate or rates, be in such form, either coupon orregistered, be issued as current interest bonds, compound interest bonds,variable rate bonds, convertible bonds, or zero coupon bonds, be issued insuch manner, be payable in such place or places, and subject to redemptionas such resolution may provide notwithstanding the provisions of section108.170, RSMo. The bonds may be sold at either public or private sale atsuch interest rates, and at such price or prices as the regional economicdevelopment district board shall determine.
2. Any issue of regional economic development district bondsoutstanding may be refunded at any time by the regional economicdevelopment district by issuing its refunding bonds in such amount as theregional economic development district may deem necessary. Such bonds maynot exceed the amount sufficient to refund the principal of the bonds to berefunded together with any unpaid interest thereon and any premiums,commissions, service fees, and other expenses necessary to be paid inconnection with the refunding. Any such refunding may be effected whetherthe bonds to be refunded then shall have matured or thereafter shallmature, either by sale of the refunding bonds and the application of theproceeds thereof to the payment of the bonds being refunded or by theexchange of the refunding bonds for the bonds being refunded with theconsent of the holder or holders of the bonds being refunded. Refundingbonds may be issued regardless of whether the bonds being refunded wereissued in connection with the same project or a separate project andregardless of whether the bonds proposed to be refunded shall be payable onthe same date or different dates or shall be due serially or otherwise.
3. Bonds issued under this section shall exclusively be theresponsibility of the regional economic development district payable solelyout of regional economic development district funds and property asprovided in the regional economic development district law and shall notconstitute a debt or liability of the state of Missouri or any agency orpolitical subdivision of the state. The regional economic developmentdistrict shall not be obligated to pay such bonds with any funds other thanthose specifically pledged to repayment of the bonds. Any bonds issued bya regional economic development district shall state on their face thatthey are not obligations of the state of Missouri or any agency orpolitical subdivision thereof other than the regional economic developmentdistrict.
4. Bonds issued under this section, the interest thereon, or anyproceeds from such bonds shall be exempt from taxation in the state ofMissouri.
Issuance of bonds, purpose--refunding--interest exempt from statetaxation.
251.630. 1. A regional economic development district may at any timeauthorize or issue revenue bonds for the purpose of paying all or any partof the cost of any regional economic development project. Every issue ofsuch bonds shall be payable out of the revenues of the regional economicdevelopment district and may be further secured by other property of theregional economic development district which may be pledged, assigned,mortgaged, or a security interest granted for such payment, withoutpreference or priority of the first bonds issued, subject to any agreementwith the holders of any other bonds pledging any specified property orrevenues. Such bonds shall be authorized by resolution of the regionaleconomic development district, and if issued by the regional economicdevelopment district, shall bear such date or dates and shall mature atsuch time or times, but not in excess of twenty-five years, as theresolution shall specify. Such bonds shall be in such denomination, bearinterest at such rate or rates, be in such form, either coupon orregistered, be issued as current interest bonds, compound interest bonds,variable rate bonds, convertible bonds, or zero coupon bonds, be issued insuch manner, be payable in such place or places, and subject to redemptionas such resolution may provide notwithstanding the provisions of section108.170, RSMo. The bonds may be sold at either public or private sale atsuch interest rates, and at such price or prices as the regional economicdevelopment district board shall determine.
2. Any issue of regional economic development district bondsoutstanding may be refunded at any time by the regional economicdevelopment district by issuing its refunding bonds in such amount as theregional economic development district may deem necessary. Such bonds maynot exceed the amount sufficient to refund the principal of the bonds to berefunded together with any unpaid interest thereon and any premiums,commissions, service fees, and other expenses necessary to be paid inconnection with the refunding. Any such refunding may be effected whetherthe bonds to be refunded then shall have matured or thereafter shallmature, either by sale of the refunding bonds and the application of theproceeds thereof to the payment of the bonds being refunded or by theexchange of the refunding bonds for the bonds being refunded with theconsent of the holder or holders of the bonds being refunded. Refundingbonds may be issued regardless of whether the bonds being refunded wereissued in connection with the same project or a separate project andregardless of whether the bonds proposed to be refunded shall be payable onthe same date or different dates or shall be due serially or otherwise.
3. Bonds issued under this section shall exclusively be theresponsibility of the regional economic development district payable solelyout of regional economic development district funds and property asprovided in the regional economic development district law and shall notconstitute a debt or liability of the state of Missouri or any agency orpolitical subdivision of the state. The regional economic developmentdistrict shall not be obligated to pay such bonds with any funds other thanthose specifically pledged to repayment of the bonds. Any bonds issued bya regional economic development district shall state on their face thatthey are not obligations of the state of Missouri or any agency orpolitical subdivision thereof other than the regional economic developmentdistrict.
4. Bonds issued under this section, the interest thereon, or anyproceeds from such bonds shall be exempt from taxation in the state ofMissouri.
