205.371. Revenue bonds authorized, when--not an indebtedness of the issuing authority. - Missouri Statutes

Revenue bonds authorized, when--not an indebtedness of theissuing authority.

205.371. 1. In addition to the bonds authorized by section205.375, the county commission in any county, or the townshipboard of any township, exercising the rights conferred by section205.375, may issue and sell revenue bonds for the purpose ofproviding funds for the acquisition, construction, equipment,improvement, extension and repair, and furnishing of nursinghomes and related facilities, and of providing a site therefor,including offstreet parking space for motor vehicles. Suchrevenue bonds shall be payable, both as to principal andinterest, solely from the net income and revenues arising fromthe operation of the nursing home or the related facility orfacilities, or of the nursing home and the related facility orfacilities, after providing for the costs of operation andmaintenance thereof, or from other funds made available fromsources other than from proceeds of taxation.

2. Any bonds issued under the provisions of sections 205.371to 205.373 shall not be deemed to be an indebtedness of the stateof Missouri or of any county or township, or of the board oftrustees of any such nursing home, or of the individual membersof any such board of trustees, and shall not be deemed to be anindebtedness within the meaning of any constitutional orstatutory limitation upon the incurring of indebtedness.

(L. 1978 H.B. 1769 § 205.990)