360.060. Bonds, form of, terms--how sold.
Bonds, form of, terms--how sold.
360.060. Bonds of the authority may be issued as serial bonds, asterm bonds, or as a combination of both types. All bonds issued by theauthority shall be payable solely out of the revenues and receipts derivedfrom the leasing or sale by the authority of, or the loan by the authoritywith respect to, the facility or facilities concerned or of any thereof asmay be designated in the resolution or resolutions of the authority underwhich bonds shall be authorized to be issued or as may be designated in atrust indenture authorized by the authority. The bonds may be executed anddelivered by the authority at any time and from time to time may be in suchform and denomination or denominations and of such terms and maturities,may be in fully registered form or in bearer form, registrable either as toprincipal or interest or both, may bear such conversion privileges, may bepayable in such installment or installments and at such time or times notexceeding sixty years from the date of the issuance thereof, may be payableat such place or places whether within or without the state of Missouri,may bear interest at such rate or rates per annum either initially orthereafter, as shall be determined by the authority or as shall bedetermined in any manner approved by the authority in its resolution,including, but not limited to, the delegation thereof to its chairman, vicechairman, executive director or a third party pursuant to a formula setforth therein, notwithstanding the provisions of section 108.170, RSMo, maybe made payable at such time or times and at such place or places, may beevidenced in such manner, may be executed by such officers of theauthority, may have attached thereto, in the case of bearer bonds or bondsregistrable as to principal only, interest coupons bearing the facsimilesignature of the secretary of the authority, and may contain suchprovisions not inconsistent herewith, all as shall be provided in theresolution or resolutions of the authority whereunder the bonds shall beauthorized to be issued or as shall be provided in a trust indentureauthorized by the authority. If deemed advisable by the authority, theremay be retained in the resolution or the trust indenture under which anybonds of the authority are authorized to be issued an option to call forredemption in advance of maturity all or any part of such bonds as may bespecified in the resolution or in the trust indenture, at such price orprices, upon the giving of such notice or notices, and upon such terms andconditions as may be set forth in the resolution or in the trust indentureand as may be recited on the face of the bond, but nothing in this sectionshall be construed to confer upon the authority the right or option to callfor redemption in advance of maturity any bonds except as may be providedin the resolution or in the trust indenture under which they shall beissued. The bonds of the authority may be sold at public or private salefor such price, in such manner, and from time to time as may be determinedby the authority notwithstanding the provisions of section 108.170, RSMo,and the authority may pay all expenses, premiums, and commissions which itmay deem necessary or advantageous in connection with the issuance thereoffrom the proceeds of the bonds.
(L. 1975 H.B. 70 § 10, A.L. 1980 H.B. 1582 & 1277, A.L. 1988 H.B. 1456, A.L. 1999 S.B. 276)