LegalFix
Sign In

Section 100.140 Sinking fund for revenue bonds.

MO Rev Stat § 100.140 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Effective 28 Aug 1961

100.140. Sinking fund for revenue bonds. — At or before the issuance of the revenue bonds the governing body shall, by ordinance, create a sinking fund for the payment of the bonds and the interest thereon, and shall set aside and pledge a sufficient amount of the revenues of the project to be paid into the sinking fund at intervals to be determined by ordinance prior to the issuance of the bonds, for

(1) The interest upon the bonds as such interest shall fall due;

(2) The necessary fiscal agent charges for paying bonds and interest; and

(3) The payment of the bonds as they fall due or if all of the bonds mature at the same time, the proper maintenance of a sinking fund sufficient for their payment at maturity.

­­--------

(L. 1961 p. 189 § 14)

Previous Section
Section 100.130 Municipality to fix terms and form of revenue bonds.
Next Section
Section 100.150 Revenue bonds payable from revenues only — statement on bond.