95.490. Bonds presumed to have been regularly authorized and issued--negotiability (cities over 100,000). - Missouri Statutes

Bonds presumed to have been regularly authorized andissued--negotiability (cities over 100,000).

95.490. All bonds purporting to be issued by virtue or inpursuance of sections 95.470 to 95.485, and signed and sealed asherein provided, shall in favor of bona fide holders, beconclusively presumed to have been duly and regularly authorizedand issued in accordance with the provisions herein contained andno holder shall be obliged to see to the existence of the purposeof the issue, or to the regularity of any of the proceedings, orto the validity of the judgments and decrees to be paid, or tothe application of the proceeds. All such bonds shall benegotiable in all respects and to the same extent as securitiesnegotiable by the law merchant.

(RSMo 1939 § 7581)

Prior revisions: 1929 § 7438; 1919 § 8846; 1909 § 9695