249.120. Bonds--denominations--interest--registry--deposit of funds. - Missouri Statutes

Bonds--denominations--interest--registry--deposit of funds.

249.120. 1. Such bonds shall be issued in denominations ofone hundred dollars or some multiple thereof; shall be payable tobearer, not later than twenty years from their date; shall bearinterest from their date at a rate not exceeding six percent perannum, payable annually or semiannually; such interest paymentsto be evidenced by annexed coupons, and said bonds shall not besold for less than ninety-five percent of the face value thereofand together with existing indebtedness of the said district, ifany, shall not exceed in the aggregate five percent of the valueof all of the taxable property in the district to be ascertainedby the assessment next before the last assessment for state andcounty purposes previous to the incurring of such indebtedness.

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 said district. Saidbonds may be sold under the same conditions as are provided forthe sale of county road bonds.

3. All bonds issued under sections 249.010 to 249.420 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 district shall bedeposited by the treasurer of the district in such bank or banksas shall be designated by order of the board of trustees and thesecretary of the district shall charge the treasurer therewithand the said moneys shall be drawn from the said treasury uponwarrant issued by the district for the purposes for which thebonds were issued.

(RSMo 1939 § 12648)