348.125. Notes and bond issues to be authorized by resolution containing terms.
177 words·~1 min read·
/mo/chapter-348/348-125A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
348.125. Notes and bond issues to be authorized by resolution containing terms. — The notes and bonds shall be authorized by resolution of the authority, shall bear such date or dates and shall mature at such time or times as such resolution may provide; except, that no bond shall mature more than fifty years from the date of its issue. The bonds may be issued as serial bonds payable in annual installments or as term bonds, or as a combination thereof. The notes and bonds shall bear interest at such rate or rates, be in such denominations, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in such medium of payment, at such place or places within or without the state, and be subject to such terms of redemption as such resolution may provide.
The notes and bonds of the authority may be sold by the authority, at public or private sale, at such price as the authority shall determine.
--------
(L. 1981 H.B. 681 § 27)