205.371. Revenue bonds authorized, when — not an indebtedness of the issuing authority.
239 words·~1 min read·
/mo/chapter-205/205-371A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
205.371. Revenue bonds authorized, when — not an indebtedness of the issuing authority. — 1. In addition to the bonds authorized by section 205.375 , the county commission in any county, or the township board of any township, exercising the rights conferred by section 205.375 , may issue and sell revenue bonds for the purpose of providing funds for the acquisition, construction, equipment, improvement, extension and repair, and furnishing of nursing homes and related facilities, and of providing a site therefor, including offstreet parking space for motor vehicles.
Such revenue bonds shall be payable, both as to principal and interest, solely from the net income and revenues arising from the operation of the nursing home or the related facility or facilities, or of the nursing home and the related facility or facilities, after providing for the costs of operation and maintenance thereof, or from other funds made available from sources other than from proceeds of taxation.
2. Any bonds issued under the provisions of sections 205.371 to 205.373 shall not be deemed to be an indebtedness of the state of Missouri or of any county or township, or of the board of trustees of any such nursing home, or of the individual members of any such board of trustees, and shall not be deemed to be an indebtedness within the meaning of any constitutional or statutory limitation upon the incurring of indebtedness.
--------
(L. 1978 H.B. 1769 § 205.990)