108.080. Bonds--denominations, interest rate--depositary (county). - Missouri Statutes

Bonds--denominations, interest rate--depositary (county).

108.080. Such bonds shall be issued in denominations of onehundred dollars or some multiple thereof, shall be payable tobearer, not later than twenty years from their date, shall bearinterest from their date at a rate not exceeding four percent perannum, payable annually or semiannually, such interest paymentsto be evidenced by annexed coupons, and said bonds shall not besold for less than ninety-five percent of the face value thereof.Such bonds shall specify the depositary or place where interestand principal payments will be made and shall be signed by thepresiding justice of the county commission and attested by thesignature of the clerk of the county commission with the seal ofhis office affixed thereto. The interest coupons may be executedby affixing thereon the facsimile signature of said clerk.

(RSMo 1939 § 3297, A.L. 1945 p. 597 § 3299)

Prior revisions: 1929 § 2910; 1919 § 1058; 1909 § 1265

(1968) Held that § 108.170, as enacted in 1965 and providing a six percent limit on interest, repealed by implication the four percent interest rate limitation as set out in § 108.080. Edwards v. St. Louis County, 429 S.W.2d 718 (Mo.banc).