204.606. Bonded indebtedness and security interests of creditors, effect of reorganization. - Missouri Statutes

Bonded indebtedness and security interests of creditors, effect ofreorganization.

204.606. The bonded indebtedness or security interest of any creditorof any common sewer district originally organized and existing undersections 204.250 to 204.270 and any sewer district originally organized andexisting under chapter 249, RSMo, that convert to a reorganized commonsewer district shall not be impaired or affected by such conversion, andall covenants and obligations of such indebtedness shall remain in fullforce and effect, payable under the terms and conditions that existedwithout conversion.

(L. 2007 S.B. 22)