349.070. Resolutions authorizing issuance of bonds or notes, provisions authorized in. - Missouri Statutes

Resolutions authorizing issuance of bonds or notes, provisionsauthorized in.

349.070. Any resolution authorizing any notes or bonds maycontain such provisions, covenants and agreements subject to anyprovisions, covenants and agreements with the holders of bonds ornotes then outstanding as the corporation determines necessary,such provisions, covenants and agreements may include but shallnot be limited to:

(1) Pledging, assigning, mortgaging, or granting a securityinterest in all or any part of the property and revenues of thecorporation or any part thereof, to secure the payment of thenotes or bonds or of any issue thereof;

(2) The use and disposition of the property or revenues ofthe corporation or any part thereof;

(3) The fixing of rents, fees and other charges and thepledging of the same and of the revenues of the corporation sothat the same will be sufficient to pay the cost of operation,maintenance and repair of any project and the principal of andinterest on notes or bonds secured by the pledge of suchrevenues;

(4) Establishing reasonable reserves to secure the paymentof such notes and bonds;

(5) Limitations on the issuance of additional notes or bondsand the terms upon which the same may be issued and secured.

(L. 1977 S.B. 267 § 13, A.L. 1980 H.B. 1582 & 1277)