233.450. Board of commissioners for special road district and county commissions for townships may issue bonds.
Board of commissioners for special road district and countycommissions for townships may issue bonds.
233.450. The board of commissioners of any special roaddistrict organized and incorporated under the provisions ofsections 233.010 to 233.165, for and on behalf of such district,and the county commissions of the several counties under townshiporganization on behalf of any township in their respectivecounties, are hereby authorized to issue road bonds to an amount,including existing indebtedness, not exceeding five percent ofthe value of the taxable tangible property of such special roaddistrict or township, as the case may be, as shown by the lastcompleted assessment for state and county purposes. Such bondsshall be issued in denominations of one hundred dollars, or somemultiple thereof, to bear interest at not exceeding six percentper annum, payable semiannually and to become due and payable atsuch times as the board of commissioners or county commissionsshall determine by order of record, not exceeding twenty yearsfrom date of issue.
(RSMo 1939 § 8609, A.L. 1945 p. 1499)Prior revisions: 1929 § 7960; 1919 § 10747
CROSS REFERENCE:
Refunding of bonded indebtedness, procedure, RSMo 108.140 to 108.160