95.485. Debt arising from purchase of waterworks, income applied, how (cities over 100,000). - Missouri Statutes

Debt arising from purchase of waterworks, income applied, how(cities over 100,000).

95.485. In case any such bonds shall be issued for thepurpose of paying any such sums required to be paid by a court onaccount of or in respect of the purchase or acquisition by suchcity of any waterworks, gas works, electric light works orproperty from which such city may thereafter derive any income orrevenue, such income and revenue for each year shall be used topay the cost of maintaining, repairing, enlarging and extendingsuch works or property, and the interest on such bonds, and theresidue of such income and revenue shall be paid into the sinkingfund provided for by section 95.480, for the payment of theprincipal of such bonds.

(RSMo 1939 § 7580)

Prior revisions: 1929 § 7437; 1919 § 8845; 1909 § 9694