100.140. Sinking fund for revenue bonds. - Missouri Statutes

Sinking fund for revenue bonds.

100.140. At or before the issuance of the revenue bonds thegoverning body shall, by ordinance, create a sinking fund for thepayment of the bonds and the interest thereon, and shall setaside and pledge a sufficient amount of the revenues of theproject to be paid into the sinking fund at intervals to bedetermined by ordinance prior to the issuance of the bonds, for

(1) The interest upon the bonds as such interest shall falldue;

(2) The necessary fiscal agent charges for paying bonds andinterest; and

(3) The payment of the bonds as they fall due or if all ofthe bonds mature at the same time, the proper maintenance of asinking fund sufficient for their payment at maturity.

(L. 1961 p. 189 § 14)

*(Transferred 1967; formerly 71.833)