Section 198.318 Board of directors to prescribe form, make necessary covenants, restrictions — bondholders, remedies of — revenue bonds, not to be exclusive method of financing.

MO Rev Stat § 198.318 (2019) (N/A)

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Effective 28 Aug 1978

198.318. Board of directors to prescribe form, make necessary covenants, restrictions — bondholders, remedies of — revenue bonds, not to be exclusive method of financing. — 1. The board of directors, issuing bonds under the provisions of section 198.312, shall prescribe the form, details and incidents of the bonds, and the board of directors shall make such covenants as in their judgment are advisable or necessary properly to secure the payment thereof; but the form, details, incidents and covenants shall not be inconsistent with any of the provisions of sections 198.312 to 198.318.

2. The holder of any bonds issued hereunder or of any coupons representing interest accrued thereon may, by civil action either at law or in equity, compel the board of directors issuing such bonds to perform all duties imposed upon them by the provisions of sections 198.312 to 198.318, and also to enforce the performance of any and all other covenants made by such board of directors in the issuance of the bonds.

3. The provisions of sections 198.312 to 198.318 shall not be exclusive of other legal methods of financing the facilities therein described, but shall furnish an alternative method of finance.

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(L. 1978 H.B. 1769)

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