96.228. Bonds secured how, rights of bondholder. - Missouri Statutes

Bonds secured how, rights of bondholder.

96.228. 1. The city council, upon the recommendation of theboard of trustees, issuing bonds under section 96.222, shallprescribe the form, details and incidents of the bonds and saidcouncil and board of trustees shall make such covenants as intheir judgment 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 sections96.222 to 96.228.

2. The holder of any bonds issued hereunder or of anycoupons representing interest accrued thereon may, by civilaction either at law or in equity, compel the city council andboard of trustees issuing such bonds to perform all dutiesimposed upon them by sections 96.222 to 96.228, and also toenforce the performance of any and all other covenants made bysuch city council and board of trustees in the issuance of thebonds.

3. The provisions of sections 96.222 through 96.228 shallnot be exclusive of other legal methods of financing thefacilities therein described, but shall furnish an alternativemethod of finance.

(L. 1969 p. 171)