108.926. Bonds, when issued--denominations--interest, how set--form of bonds--treasurer's duties--auditor's duties--facsimile signatures authorized, when.
Bonds, when issued--denominations--interest, how set--form ofbonds--treasurer's duties--auditor's duties--facsimile signaturesauthorized, when.
108.926. As evidence of the indebtedness authorized by section108.925, there shall be issued, from time to time as occasion may require,bonds of the state of Missouri in bearer form, which may be registrable asto principal or interest or both, or in fully registered form. Such bondsmay be issued as serial bonds, term bonds, or a combination of both types.They shall be issued in denominations of one thousand dollars each, ormultiples thereof, and shall bear dates to be fixed by the board of fundcommissioners. They shall bear such rate or rates of interest and may bearconversion privileges as may be determined by the board of fundcommissioners. The bonds shall mature in such annual installment orinstallments as may be determined by the board of fund commissioners,provided that no bonds shall become due later than twenty-five years fromtheir date of issue. Both principal of and interest on the bonds may bemade payable at such place or places, in or out of the state of Missouri,as determined by the board of fund commissioners, and if made payable atany place other than the office of the state treasurer at Jefferson City,Missouri, the state treasurer is authorized and directed to pay allexpenses incident thereto. Each separate issue of the bonds shall be givena series designation, either alphabetical or numerical as may be determinedby the board of fund commissioners. The board may prescribe the form,details and incidents of the bonds, but they shall not be inconsistent withany of the provisions of sections 108.925 to 108.933. Such bonds may havethe great seal of the state of Missouri impressed thereon or affixedthereto or imprinted or otherwise reproduced thereon. The bonds may, inthe discretion of the board of fund commissioners, be executed by thefacsimile signature of the governor attested by the great seal of the stateof Missouri, and the facsimile signature of the secretary of state andcountersigned with the facsimile signature of the state treasurer, but allsuch bonds shall be executed by the genuine signature of at least one ofsuch officers; provided that if such bonds are to be authenticated by thebank or trust company acting as registrar for such bonds by the manualsignature of a duly authorized officer or employee of such bank or trustcompany, the governor, secretary of state, and state treasurer executingand attesting such bonds may all do so by facsimile signature, providedthat such signatures have been duly filed as provided in sections 105.273to 105.278, RSMo, when duly authorized by resolution of the board. Theprovisions of section 108.175 shall not apply to such bonds. Any couponsattached to the bonds, evidencing the interest payments to be made thereon,shall be executed by affixing thereon the facsimile signature of the statetreasurer. When directed so to do by the board of fund commissioners, thestate auditor shall provide the bonds to be issued and lodge them with thestate treasurer in whose custody and charge they shall remain untildelivered to the purchaser thereof. The board shall, by resolution,provide a method for registering any of the bonds as the title thereto maybe transferred, and for paying the interest thereon as it falls due, andthe board shall exchange registered bonds or bonds payable to bearerwhenever requested by the holders thereof. The bonds, signed,countersigned, endorsed and sealed, as provided in sections 108.925 to108.933, when sold, shall be and constitute valid and binding obligationsof the state of Missouri, although the sale thereof may be made at a dateor dates after any officer whose signature is affixed thereto shall haveceased to be the incumbent of his office.
(L. 1995 S.B. 21)Effective 2-9-95