360.065. Subsequent or additional issues of bonds, when--refunding bonds, when. - Missouri Statutes

Subsequent or additional issues of bonds, when--refunding bonds, when.

360.065. Issuance by the authority of one or more series ofbonds for one or more than one purpose shall not preclude it fromissuing other bonds in connection with the same facility orfacilities, any other facility or facilities, or any otherpurpose hereunder, but the resolution or trust indenturewhereunder any subsequent bonds may be issued shall recognize andprotect any prior pledge or mortgage made for any prior issue ofbonds. Any issue of bonds of the authority at any timeoutstanding may be refunded at any time and from time to time bythe authority by the issuance of its refunding bonds in suchamount as the authority may deem necessary, but not exceeding theamount sufficient to refund the principal of the bonds so to berefunded together with any unpaid interest thereon and anypremiums, commissions, service fees, and other expenses necessaryto be paid in connection with the refunding. Any such refundingmay be effected whether the bonds to be refunded then shall havematured or thereafter shall mature, either by sale of therefunding bonds and the application of the proceeds thereof tothe payment of the bonds being refunded or by the exchange of therefunding bonds for the bonds being refunded with the consent ofthe holder or holders of the bonds being refunded, regardless ofwhether or not the bonds being refunded were issued in connectionwith the same facility or facilities, or a separate facility orfacilities, or any other purpose hereunder and regardless ofwhether or not the bonds proposed to be refunded shall be payableon the same date or different dates or shall be due serially orotherwise.

(L. 1975 H.B. 70 § 11, A.L. 1988 H.B. 1456)