176.055. Provision for issuance, installment payment of bonds and conversion to smaller bonds. - Missouri Statutes

Provision for issuance, installment payment of bonds and conversion tosmaller bonds.

176.055. Notwithstanding any other provision of law, in anyresolution authorizing bonds under sections 176.010 to 176.080,including refunding bonds, the governing body may provide for theinitial issuance of one or more bonds (in this section called"bond") and may make such provision for installment payments ofthe principal amount of any such bond as it may considerdesirable and may provide for the making of any such bondregistrable as to principal or as to both principal and interest,and where interest accruing thereon is not represented byinterest coupons, for the endorsing of payments of interest onsuch bond. The governing body may further make provision in anysuch resolution for the manner and circumstances in and underwhich any such bond may in the future, at the request of theholder thereof, be converted into bonds of smaller denominations,which bonds of smaller denominations may in turn be either couponbonds or bonds registrable as to principal or principal andinterest.

(L. 1959 H.B. 367)