108.903. Bonds, how sold, deposits — proceeds — expenses of sale, how paid.
203 words·~1 min read·
/mo/chapter-108/108-903A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
108.903. Bonds, how sold, deposits — proceeds — expenses of sale, how paid. — The board of fund commissioners shall offer such bonds at public sale, and shall provide such method as it may deem necessary for the advertisement of the sale of each issue of the bonds before the same are sold, and shall require a deposit of such sum with each bid as will in its judgment be sufficient to guarantee the fulfillment thereof and generally shall conduct the sale or sales under such rules and regulations as shall to it seem advisable, provided the same are consistent with sections 108.900 to 108.914 .
The board may reserve the right to reject any and all bids. The proceeds thereof shall be paid into the state treasury as herein provided. All expenses incurred by the board of fund commissioners in issuing the bonds, or any part thereof, and attending the placing of the bonds on the market in a marketable condition, shall be paid by the state treasurer out of the proceeds of the sale of the bonds upon warrants drawn by the commissioner of administration to persons entitled thereto.
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(L. 1982 2nd Ex. Sess. S.B. 1 § 4)
Effective 12-20-82