100.440. Bonds, how issued, authorized and sold.

MISSOURI STATUTES AND CODES

100.440. Bonds, how issued, authorized and sold.

Bonds, how issued, authorized and sold.

100.440. 1. Bonds of an authority shall be authorized byits resolution and may be issued in one or more series and shallbear such date or dates, be payable upon demand or mature at suchtime or times, bear interest at such rate or rates, not in excessof the maximum rate, if any, applicable to general and businesscorporations, be in such denomination or denominations, be insuch form either coupon or registered, carry such conversion orregistration privileges, have such rank or priority, be executedin such manner, be payable in such medium of payment, at suchplace or places, and be subject to such terms of redemption, withor without premium, as such resolution, its trust indenture ormortgage may provide.

2. The bonds shall be sold at not less than ninety-fivepercent of par at public or, if the authority determines it is inthe best interest of the authority, at private sale,notwithstanding the provisions of section 108.170, RSMo. Thereason or reasons why private sale is in the best interest of theauthority shall be set forth in the order or resolutionauthorizing the private sale; provided, however, that any issuein excess of ten million dollars shall be sold only at publicsale; provided, further, that notice of such public or privatesale shall be published in a newspaper having a generalcirculation in the area of operation and such medium ofpublication as the authority may deem at least once and not laterthan ten days prior to such public or private sale. The decisionof the authority shall be conclusive.