100.180. Municipality's power to enter into loans, sales, leases or mortgages--terms--requirements. - Missouri Statutes

Municipality's power to enter into loans, sales, leases ormortgages--terms--requirements.

100.180. The municipality shall have the authority to enter into loanagreements, sell, lease, or mortgage to private persons, partnerships orcorporations the facilities purchased, constructed or extended by themunicipality for manufacturing and industrial development purposes. In theevent that the facility has been financed by revenue bonds, theinstallments of charges or rents shall be sufficient to meet the interestand sinking fund requirements on the bonds. The loan agreement,installment sale agreement, lease, or other such document shall containsuch other terms as are agreed upon between the municipality and theobligor, provided that such terms shall be consistent with the otherprovisions of sections 100.010 to 100.200.

(L. 1961 p. 189 § 18, A.L. 1963 p. 125 § 71.847, A.L. 1983 S.B. 316, A.L. 2003 H.B. 289)

*(Transferred 1967; formerly 71.847)