8.440. Board may prescribe form and details of bonds--holder may enforce duties of board. - Missouri Statutes

Board may prescribe form and details of bonds--holder may enforceduties of board.

8.440. The board may prescribe the form, details andincidents of the bonds, and make the covenants that in itsjudgment are advisable or necessary properly to secure thepayment thereof; but the form, details, incidents and covenantsshall not be inconsistent with any of the provisions of sections8.370 to 8.450. Such bonds may have the seal of the boardimpressed thereon or affixed thereto or imprinted or otherwisereproduced thereon. If such bonds shall be authenticated by thebank or trust company acting as registrar for such bonds by themanual signature of a duly authorized officer or employeethereof, the duly authorized officers of the board executing andattesting such bonds, may all do so by facsimile signatureprovided such signatures have been duly filed as provided in theuniform facsimile signature of public officials law, sections105.273 to 105.278, RSMo, when duly authorized by resolution ofthe board and the provisions of section 108.175, RSMo, shall notapply to such bonds. The holder or holders of any bond or bondsissued hereunder or of any coupons representing interest accruedthereon may, by proper civil action either at law or in equity,compel the board to perform all duties imposed upon it by theprovisions of sections 8.370 to 8.450, including the making andcollecting of sufficient rates and charges for the use of theproject for which the bonds were issued, and also to enforce theperformance of any and all other covenants made by the board inthe issuance of the bonds.

(L. 1959 H.B. 241 § 8, A.L. 1991 S.B. 185)

Effective 6-18-91