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Current as of January 01, 2025 | Updated by Findlaw Staff
At or before the issuance of the revenue bonds the governing body shall, by ordinance, create a sinking fund for the payment of the bonds and the interest thereon, and shall set aside and pledge a sufficient amount of the revenues of the project to be paid into the sinking fund at intervals to be determined by ordinance prior to the issuance of the bonds, for
(1) The interest upon the bonds as such interest shall fall due;
(2) The necessary fiscal agent charges for paying bonds and interest; and
(3) The payment of the bonds as they fall due or if all of the bonds mature at the same time, the proper maintenance of a sinking fund sufficient for their payment at maturity.
Cite this article: FindLaw.com - Missouri Revised Statutes Title VII. Cities, Towns and Villages § 100.140. Sinking fund for revenue bonds - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-vii-cities-towns-and-villages/mo-rev-st-100-140/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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