184.616. Bond issues, payable when--interest rate--bond, form and content--not to be sold for less than par. - Missouri Statutes

Bond issues, payable when--interest rate--bond, form and content--notto be sold for less than par.

184.616. Upon the result of such question being certifiedby the election authority respectively to the board and if theproposition to incur or increase such indebtedness be assentedto by voters voting on the question as required by or hereaftermay be required by section 26(b) of article VI of the MissouriConstitution, the board may by resolution declare the results ofthe submission of the question and cause the bonds of suchdistrict to be issued, payable to the bearer, not exceeding theamount authorized, and in denominations of not less than onehundred dollars, or some multiple thereof, payable in not morethan twenty years from the date they bear with interest from thedate at a rate not exceeding the highest rate of interestpermitted by law payable semiannually which bonds shall haveinterest coupons attached to conform to the fact thereof. Allsuch bonds shall be signed by the chairman of the board,attested by the signature of the secretary, and each bond shallhave impressed thereon the corporate seal of the district, thatwhenever one thousand or more bonds are to be executed as of thesame date, the resolution pursuant to which such bonds areissued may direct that such bonds be executed by the facsimilesignature of the chairman and secretary of the board. Suchbonds may be negotiated and sold but in no case shall they besold for less than par.

(L. 1990 S.B. 525 § 7 subsec. 4)