215.130. Resolution authorizing issue of bonds or notes may provide what.
Resolution authorizing issue of bonds or notes may provide what.
215.130. A resolution of the commission authorizing theissuance of any notes or bonds or any issue thereof undersections 215.010 to 215.250 may provide for:
(1) Pledging all or any part of the fees and charges made orreceived by the commission and all or any part of the moneysreceived in payment of mortgage loans and interest thereon andother moneys received or to be received, to secure the payment ofthe notes or bonds or of any issue thereof, and subject to suchagreements with bondholders or noteholders as may then exist;
(2) Pledging all or any part of the revenue of thecommission, including payments or income from mortgages orobligations owned or held by the commission, to secure thepayment of notes or bonds issued under sections 215.010 to215.250 or of any issue of such notes or bonds, subject to suchagreements with noteholders or bondholders as may then exist;
(3) Pledging of any loan, grant, or contribution from thefederal, state, or local government, if authorized by the termsof such loan, grant or contribution;
(4) The use and disposition of the gross income frommortgages owned by the commission and payment of principal ofmortgages owned by the commission;
(5) The setting aside of reserves or sinking funds and theregulation and disposition thereof;
(6) Limitations on the purpose to which the proceeds of saleof notes or bonds may be applied and pledging such proceeds tosecure the payment of the notes or bonds or of any issue thereof;
(7) Limitations on the issuance of additional notes orbonds; the terms upon which additional notes or bonds may beissued and secured and the refunding of outstanding or othernotes or bonds;
(8) The procedure, if any, by which the terms of anycontract with noteholders or bondholders may be amended orabrogated, the amount of notes or bonds the holders of which mustconsent thereto and the manner in which such consent may begiven;
(9) Vesting in a trustee or trustees such property, rights,powers and duties in trust as the commission may determine, whichmay include any or all of the rights, powers and duties of thetrustee appointed by the bondholders pursuant to sections 215.010to 215.250 and limiting or abrogating the right of thebondholders to appoint a trustee or limiting the rights, powersand duties of such trustee;
(10) Any other matters of like or different character, whichin any way affect the security or protection of the notes orbonds issued by the commission.
(L. 1969 H.B. 130 § 21)