173.395. Issuance of more than one series of bonds, requirements--refunding authorized. - Missouri Statutes

Issuance of more than one series of bonds, requirements--refundingauthorized.

173.395. Issuance by the authority of one or more series ofbonds or other forms of indebtedness shall not preclude it fromissuing other bonds or other forms of indebtedness in connectionwith the same purpose or any other purpose hereunder, but thebond resolution whereunder any subsequent bonds or other forms ofindebtedness may be issued shall recognize and protect any priorpledge made for any prior issue of bonds or other forms ofindebtedness. Any issue of bonds or other forms of indebtednessof the authority at any time outstanding may be refunded at anytime and from time to time by the authority by the issuance ofits refunding bonds or other forms of indebtedness in such amountas the authority may deem necessary, but not exceeding the amountsufficient to refund the principal of the bonds or other forms ofindebtedness so to be refunded together with any unpaid interestthereon and any premiums, commissions, service fees, and otherexpenses necessary to be paid in connection with the refunding.Any such refunding may be effected whether the bonds or otherforms of indebtedness to be refunded then shall have matured orthereafter shall mature, either by sale of the refunding bonds orother forms of indebtedness and the application of the proceedsthereof to the payment of the bonds or other forms ofindebtedness being refunded or by the exchange of the refundingbonds or other forms of indebtedness for the bonds or other formsof indebtedness being refunded with the consent of the holder orholders of the bonds or other forms of indebtedness beingrefunded, regardless of whether or not the bonds or other formsof indebtedness being refunded were issued for the same purposeor any other purpose hereunder and regardless of whether or notthe bonds or other forms of indebtedness proposed to be refundedshall be payable on the same date or different dates or shall bedue serially or otherwise.

(L. 1981 H.B. 326, A.L. 1994 S.B. 583)