108.903. Bonds, how sold, deposits--proceeds--expenses of sale, how paid. - Missouri Statutes

Bonds, how sold, deposits--proceeds--expenses of sale, how paid.

108.903. The board of fund commissioners shall offer suchbonds at public sale, and shall provide such method as it maydeem necessary for the advertisement of the sale of each issueof the bonds before the same are sold, and shall require adeposit of such sum with each bid as will in its judgment besufficient to guarantee the fulfillment thereof and generallyshall conduct the sale or sales under such rules and regulationsas shall to it seem advisable, provided the same are consistentwith sections 108.900 to 108.914. The board may reserve theright to reject any and all bids. The proceeds thereof shall bepaid into the state treasury as herein provided. All expensesincurred by the board of fund commissioners in issuing thebonds, or any part thereof, and attending the placing of thebonds on the market in a marketable condition, shall be paid bythe state treasurer out of the proceeds of the sale of the bondsupon warrants drawn by the commissioner of administration topersons entitled thereto.

(L. 1982 2nd Ex. Sess. S.B. 1 § 4)

Effective 12-20-82