349.060. Notes, issuance, provisions, sale. - Missouri Statutes

Notes, issuance, provisions, sale.

349.060. Pending the issuance of bonds, the corporation mayissue notes payable from the proceeds of such bonds or from suchother sources as the corporation may specify as in the case ofbonds. Such notes shall mature in not more than five years andshall be sold at public or private sale as the corporation mayspecify at not less than ninety-five percent of the principalamount thereof and at an interest rate not in excess of themaximum rate, if any, applicable to general and businesscorporations. The other details with respect to such notes shallbe determined by the corporation as in the case of bonds.

(L. 1977 S.B. 267 § 11, A.L. 1980 H.B. 1582 & 1277)