Missouri Revised Statutes













Chapter 96

Municipal Health and Welfare

←96.224

Section 96.226.1

96.228→

August 28, 2015

Bonds, interest, mature when.

96.226. 1. Revenue bonds issued under section 96.222 shall be of such

denomination, shall bear such rate of interest not to exceed the highest rate

permitted by law, and shall mature at such times as determined by the city

council upon the recommendation of the board of trustees. The bonds may be

either serial bonds or term bonds and may be issued with or without

reservation of the right to call them for payment or redemption in advance of

their maturity, upon the giving of notice and with or without the covenant

requiring the payment of a premium in the event of the call and redemption

prior to maturity as the board determines.



2. The bonds when issued and sold shall be negotiable instruments within

the meaning of the law merchant and the negotiable instruments law and the

interest thereon is exempt from income taxes under the laws of the state of

Missouri.



(L. 1969 p. 171)







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