100.155. Revenue bonds, municipalities, refunding issue authorized--form and terms. - Missouri Statutes

Revenue bonds, municipalities, refunding issue authorized--formand terms.

100.155. 1. Any municipality which has revenue bonds issuedpursuant to the provisions of sections 100.010 to 100.200 mayissue refunding revenue bonds to provide funds to refund any orall of such revenue bonds, including payment of unpaid interest,premiums and other expenses connected therewith, whether thebonds to be refunded have or have not matured. The form of suchrefunding revenue bonds, and the terms under which such refundingrevenue bonds may be issued, including the number of the yearswithin which they are to be redeemed and their interest rate orrates, which interest rate or rates may be less than, the same,or greater than that of the revenue bonds being refunded, shallbe specified by the ordinance, order, indenture or resolutionauthorizing the refunding bonds. Refunding under the provisionsof this section may be effected by a private or public sale ofthe refunding revenue bonds, and the application of the proceedsto the purchase, redemption or payment of the revenue bonds to berefunded, or by an exchange of the refunding revenue bonds forthe revenue bonds being refunded with the consent of the holderor holders of the revenue bonds being refunded. The refundingrevenue bonds shall be paid solely from revenue received from theproject or projects financed by the revenue bonds being refunded,and shall not be a general obligation of the municipality.

2. Any municipality proposing to issue refunding revenuebonds shall issue those bonds pursuant to the provisions ofsections 100.010 to 100.200.

(L. 1981 S.B. 250 §§ 1, 2, A.L. 1983 S.B. 316)

Effective 6-22-83