100.460. Signatures on bonds, validity of--bonds negotiable--conclusive presumption that bond was issued for stated purpose. - Missouri Statutes

Signatures on bonds, validity of--bonds negotiable--conclusivepresumption that bond was issued for stated purpose.

100.460. 1. In case any of the commissioners or officers ofthe authority whose signatures appear on any bonds or couponsshall cease to be such commissioners or officers before thedelivery of such bonds, such signatures shall, nevertheless, bevalid and sufficient for all purposes, the same as if suchcommissioners or officers had remained in office until suchdelivery. Any provision of any law to the contrarynotwithstanding, any bonds issued pursuant to this law shall befully negotiable.

2. In any suit, action or proceeding involving the validityor enforceability of any bond of any authority or the securitytherefor, any such bond reciting in substance that it has beenissued by the authority to aid in financing a project, as hereindefined, shall be conclusively deemed to have been issued forsuch purpose and such project shall be conclusively deemed tohave been planned, located and carried out in accordance with thepurposes and provisions of this law.

(L. 1967 p. 172 § 17)