99.840. Obligation, refunded to pay redevelopment costs, requirements--other obligations of municipality pledged to redevelopment may qualify. - Missouri Statutes

Obligation, refunded to pay redevelopment costs, requirements--otherobligations of municipality pledged to redevelopment may qualify.

99.840. 1. A municipality may also issue its obligationsto refund, in whole or in part, obligations theretofore issuedby such municipality under the authority of sections 99.800 to99.865, whether at or prior to maturity; provided, however, thatthe last maturity of the refunding obligations shall not beexpressed to mature later than the last maturity date of theobligations to be refunded.

2. In the event a municipality issues obligations underhome rule powers or other legislative authority, the proceeds ofwhich are pledged to pay for redevelopment project costs, themunicipality may, if it has followed the procedures inconformance with sections 99.800 to 99.865, retire suchobligations from funds in the special allocation fund in amountsand in such manner as if such obligations had been issuedpursuant to the provisions of sections 99.800 to 99.865.

(L. 1982 H.B. 1411 & 1587 § 7)