99.510. Commissioner's signature on bonds--validity--bonds deemed to be issued for lawful purpose. - Missouri Statutes

Commissioner's signature on bonds--validity--bonds deemed to be issuedfor lawful purpose.

99.510. 1. In case any of the commissioners or officers ofthe authority whose signatures appear on any bonds or couponsshall cease to be such commissioners or officers before thedelivery of such bonds, such signatures shall, nevertheless, bevalid and sufficient for all purposes, the same as if suchcommissioners or officers had remained in office until suchdelivery. Any provision of any law to the contrarynotwithstanding, any bonds issued pursuant to sections 99.300 to99.660 shall be fully negotiable.

2. In any suit, action or proceedings involving the validityor enforceability of any bond of an authority or the securitytherefor, any such bond reciting in substance that it has beenissued by the authority to aid in financing a land clearanceproject, as herein defined, shall be conclusively deemed to havebeen issued for such purpose and such project shall beconclusively deemed to have been planned, located and carried outin accordance with the purposes and provisions of this law.

(L. 1951 p. 300 § 10)