108.912. Bonds, principal and interest, how paid--repurchase, when. - Missouri Statutes

Bonds, principal and interest, how paid--repurchase, when.

108.912. All bonds herein authorized to be issued shall bepaid at maturity and all interest accruing thereon shall be paidwhen it falls due by the state treasurer, at a place designatedin the bonds and coupons, if any, attached. Thirty days beforeany of the bonds mature and any of the interest thereon fallsdue, it shall be the duty of the board of fund commissioners todraw its requisition for the amount necessary to pay suchinterest on the bonds and the principal of maturing bonds andthe necessary expenses to be incurred in transmitting suchmoneys. The commissioner of administration shall certify theamount and shall issue his warrant upon the state treasurytherefor in favor of the president of the board of fundcommissioners, payable out of the third state building bondinterest and sinking fund. The warrant shall be delivered tothe state treasurer who shall transmit the amount of moneytherein specified to the paying agents named in the bonds withinstructions to place such money to the credit of the board offund commissioners for the payment of interest or principal ofsuch bonds. Whenever in the opinion of the board of fundcommissioners it is advisable to do so, and there are sufficientfunds therefor, the board may redeem any of the bonds beforematurity if the holders thereof agree thereto, and may alsopurchase any of the bonds in the open market whenever funds areavailable and in the opinion of the board it is to the advantageof the state to do so.

(L. 1982 2nd Ex. Sess. S.B. 1 § 13)

Effective 12-20-82