176.035. Priority of liens of successive series of bonds, how fixed. - Missouri Statutes

Priority of liens of successive series of bonds, how fixed.

176.035. If more than one series of bonds shall be issuedunder sections 176.010 to 176.080 payable from the net income andrevenues of any project or projects, priority of lien thereof onsuch net income and revenues shall depend on the provisions ofthe proceedings authorizing the issuance of such bonds, it beingwithin the discretion of the governing body, at the time itauthorizes any such series, to provide that subsequent series ofbonds payable from such net income and revenues may not beissued, that subsequent series of bonds shall be subordinate asto lien, or that subsequent series of bonds shall enjoy parity oflien if such conditions and restrictions as may be specified insuch proceedings can be met.

(L. 1959 H.B. 367)