238.240. Indebtedness, authorized--bonds, authority to issue--limitations. - Missouri Statutes

Indebtedness, authorized--bonds, authority to issue--limitations.

238.240. 1. A district may contract and incur liabilitiesappropriate to accomplish its purposes.

2. It may lease or lease-purchase any real or personal propertynecessary or convenient for its purposes.

3. It may borrow money for its purposes at such rates of interest asthe district may determine.

4. It may issue bonds, notes and other obligations, and may secureany of such obligations by mortgage, pledge, assignment or deed of trust ofany or all of the property and income of the district, subject to therestrictions provided in sections 238.200 to 238.275. The district shallnot mortgage, pledge or give a deed of trust on any real property orinterests which it obtained by eminent domain. The district shall notmortgage, pledge or give a deed of trust on any real property or interestswhich it acquired from the state of Missouri or any agency or politicalsubdivision thereof without the written consent of the state, agency orpolitical subdivision from which it obtained the property.

(L. 1990 S.B. 479 & 649 § 51, A.L. 1997 S.B. 303, A.L. 1998 S.B. 861)