Missouri Revised Statutes
Chapter 305 - Aircraft and Airports
Section 305.317 - Bond issues, procedure to authorize — limitations — resolution contents — duties.

Effective - 28 Aug 1985
305.317. Bond issues, procedure to authorize — limitations — resolution contents — duties. — The authority, if it desires to issue bonds pursuant to section 305.315, shall adopt a resolution describing in a general way the airport or airports and the related facility or facilities to be acquired, established, constructed, reconstructed, expanded, or improved and refer to the plans and specifications therefor prepared for that purpose, or if refunding bonds, describing the bonds or other obligations to be refunded, or both. Any such resolution shall set out the estimated cost therefor, or in the case of refunding bonds, the amount of the bonds to be refunded, and shall fix the maximum amount of revenue bonds proposed to be issued therefor. This amount shall not exceed the estimated cost thereof, including engineering, legal, and other expenses together with interest cost to a date six months subsequent to the estimated date of completion, or, in the case of refunding bonds, the principal amount of the bonds to be refunded and legal and other expenses, and such other sums as in the discretion of the authority may be desirable to create a reserve fund sufficient to pay the maximum amount of principal and interest estimated to fall due on the bonds in any future twelve-month period. Such resolution may contain such covenants, which shall be part of the contract between the authority and the holder of the bonds and the trustee, if any, for such bondholders having such rights and duties as may be provided therein for the enforcement and protection of such covenants, as may be deemed necessary or advisable as to:
(1) The issuance of additional bonds that may thereafter be issued payable from the income and revenues derived from the operation of any such airport or airports, and related facility or facilities, and for the payment of the principal and interest upon such bonds;
(2) The regulations as to the use of any such airport or airports, and related facility or facilities, to assure the maximum use or occupancy thereof;
(3) The kind and amount of insurance to be carried, including use and occupancy insurance, the cost of which shall be payable only from the income and revenues derived from such airport or airports, and related facility or facilities;
(4) The operation, maintenance, management, accounting and auditing, employment of airport engineers and consultants and the keeping of records, reports and audits of any such airport or airports, and related facility or facilities;
(5) The obligation of the authority to maintain the airport or airports, and related facility or facilities, in good condition and to operate the same in an economical and efficient manner;
(6) Provide for setting aside of sinking funds, reserve funds, depreciation funds and such other special funds as may be found needful and the regulation and disposition thereof;
(7) Provide for the setting aside of a sinking fund, into which shall be payable from the income and revenues of such airport or airports, and related facility or facilities, from month to month, as such income and revenues are collected, such sums as will be sufficient to pay the accruing interest and retire the bonds at maturity;
(8) Fix and collect rents, rates of toll and other charges for the use of such airport or airports, and related facility or facilities, sufficient, together with other available money, to produce income and revenues adequate to pay the bonds at maturity and accruing interest and reserves therefor and sufficient to pay cost of maintenance, operation and depreciation thereof in such order of priority as shall be provided by the resolution authorizing the bonds;
(9) Fix procedures by which the terms of any contract with the holders of the bonds may be amended, the amount of bonds involved, the holders of which must consent;
(10) Provide the procedure for refunding such bonds;
(11) Provide whether and to what extent and upon what terms and conditions, if any, the holder of bonds or coupons issued under such resolution or the trustee, if any, therefor may, either in law or in equity, by suit, action, mandamus or other proceeding, enforce or compel the performance of all duties required by this section and section 305.315, including the fixing, maintaining and collecting of such rents, rates or other charges for the use of such airport or airports, and related facility or facilities, or for any service rendered by the authority in the operation thereof as will be sufficient, together with other available money, to pay the principal or interest upon those revenue bonds as the same become due and reserves therefor and sufficient to pay the cost of maintenance, operation and depreciation of the airport or airports, and related facility or facilities, in the order of priority as provided in the resolution authorizing the bonds, and the application of the income and revenues thereof;
(12) Such other covenants as may be deemed necessary or desirable to assure a successful and profitable operation of the airport or airports, and related facility or facilities, and prompt payment of the principal and interest upon the bonds so authorized.
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(L. 1985 S.B. 145 & 166 § 6)

Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XIX - Motor Vehicles, Watercraft and Aviation

Chapter 305 - Aircraft and Airports

Section 305.010 - Definitions.

Section 305.020 - Ownership of space.

Section 305.030 - Lawful flight — unlawful landing.

Section 305.040 - Liability of aircraft owner determined by tort law.

Section 305.050 - Laws of state to govern.

Section 305.060 - Contractual and other relations entered while in flight, effect of.

Section 305.070 - Uniform construction and interpretation of law.

Section 305.080 - Certain acts a misdemeanor.

Section 305.090 - Tampering with aircraft — penalty.

Section 305.100 - Tampering with airport a misdemeanor.

Section 305.110 - Leaving aircraft running — penalty.

Section 305.120 - Definitions.

Section 305.125 - Refusal to submit to test, effect, penalties.

Section 305.126 - Positive test results, test refusals and convictions of violations to be reported to the Federal Aviation Administration.

Section 305.130 - Unlawful to operate without an airman certificate and certificate of airworthiness.

Section 305.140 - Airman certificate to be kept in personal possession.

Section 305.150 - Exceptions to license requirements.

Section 305.160 - Violation of law a misdemeanor.

Section 305.170 - Operation of airports by cities.

Section 305.180 - Operation of airports by counties.

Section 305.190 - Declaration of acquisition of land a public necessity.

Section 305.200 - Acquisition of property — definition — issuance of bonds.

Section 305.205 - Revenue bonds authorized, first class counties.

Section 305.210 - Manner of operating airports — fees.

Section 305.220 - Authority to appropriate money.

Section 305.230 - Aeronautics program, highways and transportation commission to administer — purposes — aviation trust fund, administration, uses — appropriation — immediate availability of funds in the event of a disaster.

Section 305.233 - Technical advice, who shall give — approved airport design maintained.

Section 305.234 - Department of transportation to provide assistance, when.

Section 305.237 - Transportation department to accept federal and other moneys for air facilities.

Section 305.238 - Political subdivision funding air facilities with federal grants may request department to act as agent — laws and rules governing.

Section 305.239 - Contracts for air facilities with federal funding, laws and rules governing.

Section 305.240 - Establishment of air facilities in adjoining state.

Section 305.250 - Adjoining state may establish air facilities.

Section 305.260 - Rights and privileges of adjoining state.

Section 305.270 - Dependent upon reciprocity by adjoining state.

Section 305.295 - Establishment of an airport authority by an eligible entity, jurisdiction.

Section 305.300 - County airport authority, procedure to establish.

Section 305.304 - Boards of directors — number of members, terms — election — election not required when — certain exceptions, St. Charles County — expenses — meetings — officers, terms.

Section 305.307 - Powers of board — condemnation authorized.

Section 305.310 - Additional powers, competitive bids required, when — approval by authority of all transactions.

Section 305.312 - Additional powers of authority.

Section 305.315 - Bond issues authorized — interest rate — price of bonds — required provisions — refunding bonds, requirements.

Section 305.317 - Bond issues, procedure to authorize — limitations — resolution contents — duties.

Section 305.320 - Security for bonds deposited in separate fund — purpose — subsequent resolutions, effect — surplus funds, authorized disbursement.

Section 305.325 - Debts and obligations of authority not debts of state.

Section 305.330 - Property of authority exempt from state taxes.

Section 305.333 - Tax levy — rate — procedure to adopt — election, when — ballot form — use of revenue.

Section 305.400 - Definitions (Greene County).

Section 305.405 - Zoning regulations (Greene County).

Section 305.410 - Annexation of land within airport zone prohibited, exceptions — enforcement authority — board of adjustment authorized (Greene County).

Section 305.500 - Short title.

Section 305.505 - Definitions.

Section 305.510 - Authority established — state aid to terminate June 30, 1983.

Section 305.515 - Members of authority, how appointed, terms, qualifications, compensation, oath, bond.

Section 305.520 - General powers of authority.

Section 305.525 - Contractual and regulatory powers of authority.

Section 305.530 - Bonds, issue authorized, denominations, sale — refunding bonds.

Section 305.535 - Bonds, issue procedure — resolution to issue may contain.

Section 305.540 - Excess revenue, how used.

Section 305.545 - Authority may expand — certain Illinois counties may be included, when — effect of.

Section 305.550 - Additional powers of authority.

Section 305.555 - Authority property exempt from tax.

Section 305.560 - Authority not authorized to obligate state or political subdivision.

Section 305.565 - Bonds, who may invest in.

Section 305.570 - Authority airports to be individually considered.

Section 305.575 - Airport hazards, zoning — zoning committee — regulations, variances — penalty.

Section 305.580 - Noise zoning — major airport land use zoning committee — regulation, variances, procedures.

Section 305.585 - Authority to repay state for state general revenue funds used.

Section 305.600 - Displacing agencies defined — compliance with federal regulations.

Section 305.603 - Certain aid for displaced persons.

Section 305.606 - Acquisition costs for dwelling — interest and debt service costs — title, closing costs — eligibility — mortgage.

Section 305.609 - Dwelling costs — eligibility — payment amount.

Section 305.612 - Programs undertaken by displacing agency — relocation assistance advisory services — eligibility.

Section 305.615 - Head of displacing agency may provide dwellings — comparable replacement housing.

Section 305.618 - Administrative appeals — written process.

Section 305.621 - Benefits not additional.

Section 305.624 - Financial and emotional costs — search for new housing.

Section 305.627 - Clearing, seeding, and mowing of acquired property.

Section 305.630 - Noise mitigation — requirements — roads, relocation of highways — effect of plan on floodplain.

Section 305.800 - Definitions.

Section 305.802 - Derelict or abandoned aircraft discovered, airport superintendent duties — notification of owner.

Section 305.804 - Failure to remove, airport superintendent's authority — sale or disposal of aircraft, requirements — liability of owner for costs.

Section 305.806 - Lien on aircraft — perfection of lien requirements.

Section 305.808 - Sale of aircraft, use of proceeds — return to owner, when.

Section 305.810 - Divesting of owner's legal or equitable interests in aircraft.