95.435. Sinking fund to be provided. - Missouri Statutes

Sinking fund to be provided.

95.435. Every city or town before issuing such bonds shallprovide for a sinking fund to be levied and collected during eachyear prior to the maturity of any bonds issued under theprovisions of sections 95.415 to 95.460, sufficient to providefor the payment of the bonds at maturity, or any interestthereon; and any ordinance authorizing and directing the issue ofsuch bonds shall also provide for a sinking fund for theirpayment. Such sinking fund shall be provided from the annualrevenues and incomes mentioned in section 95.425, if such therebe, and from a special tax to be levied annually, sufficient tomeet and discharge the maturing bonds and matured or maturinginterest; and the city council or other proper legislative bodyof any such city or town shall be bound and required to levy andcollect, during each fiscal year, a special tax sufficient, withthe aforesaid revenues and incomes, to pay all interest maturedand maturing during that fiscal year, and provide for and keep upthe sinking fund as aforesaid.

(RSMo 1939 § 7461)

Prior revisions: 1929 § 7308; 1919 § 8723; 1909 § 9602