Missouri Revised Statutes













Chapter 243

Drainage Districts Organized in County Commission

←243.390

Section 243.400.1

243.410→

August 28, 2015

County commission authorized to pledge bonds--manner.

243.400. 1. Bonds issued under the authority of section 243.390 or

refunding bonds issued to refund any or all such bonds may be pledged by the

county commission to any corporation, commission or agency created or

authorized by congress or the state of Missouri to accept a pledge of such

bonds, and the county commission is authorized to pledge the bonds of any

drainage district created under this chapter in a manner to conform to the

requirements, rules and/or regulations of any such corporation, commission or

agency.



2. Upon a pledge of any such bonds as by this section authorized, funds

shall be provided to redeem said bonds and interest thereon from the terms of

such pledge in the same manner as if said bonds had been sold, and the lien

of pledged bonds and interest thereon shall be enforced in the same manner as

provided in this chapter for bonds sold.



3. Funds derived from a pledge of any such bonds shall be deposited,

accounted for and expended in the same manner as if such bonds had been sold

or as may be provided by the requirements, rules and/or regulations of the

corporation, commission or agency accepting a pledge of such bonds and

advancing funds thereon.



(RSMo 1939 § 12419)







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