Section 260.055

Title XVI CONSERVATION, RESOURCES AND DEVELOPMENT

Chapter 260

Effective - 22 Jan 1973, see footnote   

  260.055.  Resolution authorizing notes or bonds, contents of. — Any resolution authorizing any notes or bonds may contain such provisions, covenants and agreements subject to any provisions, covenants and agreements with the holders of bonds or notes then outstanding as the authority determines necessary.  Such provisions, covenants and agreements may include but shall not be limited to:

  (1)  Pledging of all or any part of the revenues of the authority, or any part thereof, to secure the payment of the notes or bonds or of any issue thereof;

  (2)  The use and disposition of the revenues of the authority or any part thereof;

  (3)  The fixing of rents, fees and other charges and the pledging of the same and of the revenues of the authority so that the same will be sufficient to pay the cost of operation, maintenance and repair of any project and the principal of and interest on notes or bonds secured by the pledge of such revenues;

  (4)  Establishing reasonable reserves to secure the payment of such notes or bonds;

  (5)  Limitations on the issuance of additional notes or bonds and the terms upon which the same may be issued and secured.

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(L. 1972 H.B. 1041 § 11)

Effective 1-22-73