204.636. Issuance of refunding bonds, when. - Missouri Statutes

Issuance of refunding bonds, when.

204.636. For the purpose of refunding, extending, and unifying thewhole or any part of any valid outstanding bonded indebtedness payable fromthe revenues of a sewerage system, any reorganized common sewer districtmay issue refunding bonds not exceeding in amount the principal of theoutstanding indebtedness to be refunded and the accrued interest to thedate of the refunding bonds. The board of trustees of the reorganizedcommon sewer district shall provide for the payment of interest which shallnot exceed the same rate and the principal of the refunding bonds in thesame manner and from the same source as was provided for the payment ofinterest on and principal of the bonds to be refunded.

(L. 2007 S.B. 22)