Section 360.060

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 360

Effective - 28 Aug 1999   

  360.060.  Bonds, form of, terms — how sold. — Bonds of the authority may be issued as serial bonds, as term bonds, or as a combination of both types.  All bonds issued by the authority shall be payable solely out of the revenues and receipts derived from the leasing or sale by the authority of, or the loan by the authority with respect to, the facility or facilities concerned or of any thereof as may be designated in the resolution or resolutions of the authority under which bonds shall be authorized to be issued or as may be designated in a trust indenture authorized by the authority.  The bonds may be executed and delivered by the authority at any time and from time to time may be in such form and denomination or denominations and of such terms and maturities, may be in fully registered form or in bearer form, registrable either as to principal or interest or both, may bear such conversion privileges, may be payable in such installment or installments and at such time or times not exceeding sixty years from the date of the issuance thereof, may be payable at such place or places whether within or without the state of Missouri, may bear interest at such rate or rates per annum either initially or thereafter, as shall be determined by the authority or as shall be determined in any manner approved by the authority in its resolution, including, but not limited to, the delegation thereof to its chairman, vice chairman, executive director or a third party pursuant to a formula set forth therein, notwithstanding the provisions of section 108.170, may be made payable at such time or times and at such place or places, may be evidenced in such manner, may be executed by such officers of the authority, may have attached thereto, in the case of bearer bonds or bonds registrable as to principal only, interest coupons bearing the facsimile signature of the secretary of the authority, and may contain such provisions not inconsistent herewith, all as shall be provided in the resolution or resolutions of the authority whereunder the bonds shall be authorized to be issued or as shall be provided in a trust indenture authorized by the authority.  If deemed advisable by the authority, there may be retained in the resolution or the trust indenture under which any bonds of the authority are authorized to be issued an option to call for redemption in advance of maturity all or any part of such bonds as may be specified in the resolution or in the trust indenture, at such price or prices, upon the giving of such notice or notices, and upon such terms and conditions as may be set forth in the resolution or in the trust indenture and as may be recited on the face of the bond, but nothing in this section shall be construed to confer upon the authority the right or option to call for redemption in advance of maturity any bonds except as may be provided in the resolution or in the trust indenture under which they shall be issued.  The bonds of the authority may be sold at public or private sale for such price, in such manner, and from time to time as may be determined by the authority notwithstanding the provisions of section 108.170, and the authority may pay all expenses, premiums, and commissions which it may deem necessary or advantageous in connection with the issuance thereof from the proceeds of the bonds.

­­--------

(L. 1975 H.B. 70 § 10, A.L. 1980 H.B. 1582 & 1277, A.L. 1988 H.B. 1456, A.L. 1999 S.B. 276)