198.312. Revenue bonds authorized, when. - Missouri Statutes

Revenue bonds authorized, when.

198.312. As an alternative to the authorization for anindebtedness provided by section 198.310, for the purpose ofproviding funds for the acquisition, construction, erection,equipment and furnishing of nursing homes and related facilities,and for providing a site therefor, including offstreet parkingspace, and making from time to time enlargements or extensionsthereof, the board of directors may issue and sell revenue bonds.The revenue bonds are payable, both as to principal and interest,solely and only out of the net income and revenues arising fromthe operation of the facility, after providing for the costs ofoperation and maintenance thereof, or from other funds madeavailable to the facility from sources other than from proceedsof taxation.

(L. 1978 H.B. 1769)