321.340. Bonds of district.

MISSOURI STATUTES AND CODES

Bonds of district.

321.340. To carry out the purposes of this chapter, theboard is hereby authorized to issue negotiable coupon bonds ofthe district as herein provided. Bonds shall bear interest at arate not exceeding six percent per annum, payable semiannually,and shall be due and payable serially, either annually orsemiannually, commencing not later than three years and extendingnot more than twenty years from their date. The form and termsof said bonds, including provisions for their payment andredemption, shall be determined by the board. If the board sodetermines, such bonds may be redeemable prior to maturity uponpayment of a premium, not exceeding three percent of theprincipal thereof. Said bonds shall be executed in the name ofand on behalf of the district and signed by the chairman of theboard, with the seal of the district affixed thereto and attestedby the secretary of the board. Said bonds shall be in suchdenominations as the board shall determine and the bonds andcoupons thereto attached shall be payable to bearer. Interestcoupons shall bear the original or facsimile signature of thechairman of the board.