198.318. Board of directors to prescribe form, make necessary covenants, restrictions--bondholders, remedies of--revenue bonds, not to be exclusive method of financing.

MISSOURI STATUTES AND CODES

198.318. Board of directors to prescribe form, make necessary covenants, restrictions--bondholders, remedies of--revenue bonds, not to be exclusive method of financing.

Board of directors to prescribe form, make necessary covenants,restrictions--bondholders, remedies of--revenue bonds, not to beexclusive method of financing.

198.318. 1. The board of directors, issuing bonds under theprovisions of section 198.312, shall prescribe the form, detailsand incidents of the bonds, and the board of directors shall makesuch covenants as in their judgment are advisable or necessaryproperly to secure the payment thereof; but the form, details,incidents and covenants shall not be inconsistent with any of theprovisions of sections 198.312 to 198.318.

2. The holder of any bonds issued hereunder or of anycoupons representing interest accrued thereon may, by civilaction either at law or in equity, compel the board of directorsissuing such bonds to perform all duties imposed upon them by theprovisions of sections 198.312 to 198.318, and also to enforcethe performance of any and all other covenants made by such boardof directors in the issuance of the bonds.

3. The provisions of sections 198.312 to 198.318 shall notbe exclusive of other legal methods of financing the facilitiestherein described, but shall furnish an alternative method offinance.