204.254. Total amount of bonds limited--form of bonds--registration of bonds. - Missouri Statutes

Total amount of bonds limited--form of bonds--registration of bonds.

204.254. 1. The total amount of any bonds issued pursuantto sections 204.251 to 204.257 for improvements to thesubdistrict of the common sewer district shall not exceed tenpercent of the assessed valuation of all taxable tangibleproperty, as shown by the last completed property assessment forstate or local purposes, within the common sewer district.

2. Such bonds shall be signed by the president of the boardof trustees and attested by the signature of the secretary of theboard of trustees with the seal of the district affixed thereto.The interest coupons may be executed by affixing thereon thefacsimile signature of the secretary of the district. The bondsmay be sold under the same conditions as are provided for thesale of county road bonds.

3. All bonds issued under sections 204.251 to 204.257 shallbe registered in the office of the state auditor as provided bylaw for the registration of bonds of cities and in the office ofthe secretary of the board of trustees of the district in a bookkept for that purpose for registry, shall show the number, date,amount, date of sale, name of the purchaser and the amount forwhich the bond was sold. The moneys of the common sewer districtshall be deposited by the treasurer of the common sewer districtin such bank or banks as shall be designated by order of theboard of trustees and the secretary of the common sewer districtshall charge the treasurer therewith and the moneys shall bedrawn from the treasury upon warrants issued by the common sewerdistrict for the purposes for which the bonds were issued.

(L. 1992 H.B. 1803 § 4)