91.150. Plant, how paid for--bonds to constitute lien.

MISSOURI STATUTES AND CODES

91.150. Plant, how paid for--bonds to constitute lien.

Plant, how paid for--bonds to constitute lien.

91.150. Whenever a proposition shall be submitted andadopted by a majority of the voters of the city voting on theproposition, then the waterworks system shall be conveyed to thecity by the person, firm or corporation owning the same, whichdeed shall convey to the city a valid title to the propertyexcept that such conveyance shall be subject to a vendor's lienfor the purchase price of the plant, which shall be evidenced bybonds herein provided for, which shall be issued and delivered tothe person, firm or corporation selling the property, in paymenttherefor. And the city, for the purpose of paying for thewaterworks plant, shall issue bonds to an amount equal to theagreed purchase price, which shall be known as "the waterworksbonds" and which shall constitute a first lien on the waterworksplant so acquired, and all the property connected therewith orthereafter acquired constituting a part of the plant, includingthe income arising therefrom, it being the intent of sections91.090 to 91.300, however, that there is to be no liability onthe part of the city to pay the amount evidenced by the bonds outof any other fund than the one herein specified, and the bondsshall not constitute a liability of the city for which thegeneral revenues thereof can be appropriated, or any partthereof, except to pay a reasonable fire hydrant rental for suchhydrants as may be used by the city for the purpose of fireprotection, and washing and flushing streets, crossings, alleysand sewers, as herein provided.