257.390. Public sale of bonds, minimum price--use of proceeds. - Missouri Statutes

Public sale of bonds, minimum price--use of proceeds.

257.390. The board of trustees on behalf of the districtshall sell its bonds to the best advantage at public sale onsealed bids but for no less than ninety-five cents on the dollarand the proceeds shall be paid over to the treasurer of thedistrict, who shall disburse the proceeds on order of the boardof trustees in payment of costs incidental to the holding of theelection, the issuance of the bonds and in paying the costs ofconstructing and carrying into execution the plan of improvementadopted for the district. The sale of the bonds shall bepublicly advertised for such time and in such manner as the boarddirects.

(L. 1959 S.B. 199 § 39)