Effective - 28 Aug 1939
91.220. Failure to redeem bonds. — In case of default in the payment of the principal of the bonds or interest due thereon for a period of six months, all of said property, to wit: The waterworks system, consisting of pipes, mains, machinery, buildings, standpipes, reservoirs, easements, rights-of-way, water supply and the real estate connected therewith, including any leasehold rights and all obligations due from private corporations, individuals or the city to the said waterworks system, or board of waterworks commissioners, on account of water furnished or consumed, and including the right, privilege and franchise to continue thereafter the maintenance and operation of said plant for a period of thirty years, shall be conveyed by said commissioners by a deed of conveyance to the bondholders to be held by them in the relative proportion that the bonds held by each shall bear to the entire issue; provided, that said property may be conveyed to a trustee designated by a majority of the bondholders to be held for the use of all the bondholders in the proportion aforesaid, and such conveyance shall vest a perfect title in said bondholders and their assigns or their trustee to said property, and said bondholders and their assigns or their trustee, shall thereafter have the use of the streets, avenues, alleys and other public places to maintain and operate their said plant for a period of thirty years, as aforesaid; and provided further, that the lien created by the said bonds and sections 91.090 to 91.300 may be foreclosed in a court of equity in a like manner as if a mortgage or deed of trust was given to secure the same. No general or personal judgment shall be rendered against the city except for such amounts as may be due from said city as rental for hydrants used by the city for the purpose of fire protection and washing and flushing streets, crossings, alleys and sewers of the city, and in case of foreclosure, the decree and sale shall convey to the purchaser, or person or persons receiving title under the decree, or by a sale under the decree, all the rights, title and estate which could be conveyed by a conveyance from the board of waterworks commissioners, as aforesaid.
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(RSMo 1939 § 7819)
Prior revisions: 1929 § 7674; 1919 § 9112; 1909 § 9937
Structure Missouri Revised Statutes
Title VII - Cities, Towns and Villages
Chapter 91 - Municipally Owned Utilities
Section 91.020 - Cities empowered to sell light and power.
Section 91.030 - Cities may purchase light and power, and ancillary services.
Section 91.040 - Cities may use streets and roads.
Section 91.050 - Cities owning waterworks may supply other cities.
Section 91.060 - Cities, towns or villages may procure water from any other city — contract.
Section 91.080 - Condemnation proceedings — compensation for private property taken.
Section 91.090 - Certain cities may construct or acquire waterworks.
Section 91.100 - May contract to supply.
Section 91.110 - May acquire by purchase.
Section 91.120 - May acquire water system — procedure.
Section 91.130 - Proposition to sell to be in writing — publication — deed, how made.
Section 91.140 - Petition by citizens — duty of council.
Section 91.150 - Plant, how paid for — bonds to constitute lien.
Section 91.160 - Management — form of bonds.
Section 91.170 - May advertise for bids to construct.
Section 91.180 - Contractor to give bond.
Section 91.190 - Bid for construction to be submitted to voters.
Section 91.200 - Council to appoint superintendent of construction.
Section 91.210 - What provisions to apply.
Section 91.220 - Failure to redeem bonds.
Section 91.230 - City to pay for fire protection — rates.
Section 91.240 - Funds, where deposited.
Section 91.250 - Waterworks bonds of certain cities may be deposited as securities.
Section 91.260 - Board of waterworks commissioners, how composed — compensation.
Section 91.270 - Powers and duties of board — may appoint manager — city to pay for water.
Section 91.280 - Board and manager liable on bond for neglect.
Section 91.290 - Waterworks exempt from execution, exception.
Section 91.300 - Scope of sections 91.090 to 91.300.
Section 91.450 - Certain cities may own public utilities — how acquired — board of public works.
Section 91.460 - Board to be nonpartisan — salary — bond.
Section 91.470 - Office vacated, how.
Section 91.480 - Board to manage municipal utilities.
Section 91.490 - Council to prescribe powers — rules and regulations.
Section 91.500 - Officers and employees — compensation.
Section 91.510 - Salaries and expenses — how paid.
Section 91.520 - Board to keep accounts and make report.
Section 91.530 - Board to let work by contract.
Section 91.540 - Rates to be fixed by board.
Section 91.550 - Referendum on sale of municipal utility by third class city.
Section 91.560 - Special charter cities may enact certain ordinances.
Section 91.570 - Cities are authorized to acquire all necessary lands and easements.
Section 91.580 - May condemn private property for public use.
Section 91.595 - Waterworks — revenue bonds, issuance — authorization for.
Section 91.596 - Revenue bonds — election — form of ballot.
Section 91.597 - Bonds, how signed — term — rate of interest.
Section 91.610 - Compensation for private property taken.
Section 91.620 - Citation of law.
Section 91.650 - Preliminary expenses — how met and paid.
Section 91.660 - Bond issues — authorization, approval.
Section 91.670 - Revenue bonds — rate of interest, sale.
Section 91.680 - Moneys received — how expended.
Section 91.690 - Sinking fund.
Section 91.700 - Bonds shall not be invalidated for certain reasons.
Section 91.710 - Ordinance or resolution — may contain what.
Section 91.720 - Bonds — payable from what revenue, liability limited.
Section 91.730 - Default — rights of bondholders — procedure of circuit court — receiver.
Section 91.740 - Rights and powers of bondholders — shall be cumulative.
Section 91.750 - Sewage disposal and waterworks — operators authorized to enter into contracts.
Section 91.760 - Powers are additional and supplemental — law shall be controlling.
Section 91.770 - Municipalities — power to acquire lands and other property, limitation.
Section 91.780 - Defining term rapid transit improvement.
Section 91.790 - Authorized to establish, construct and own rapid transit improvement.
Section 91.800 - May assess benefits and damages, and collect and pay therefor.
Section 91.810 - May provide for payment by special assessment.
Section 91.820 - May issue and sell public utility improvement and general bonds.
Section 91.830 - May grant rights and interests in rapid transit improvements.
Section 91.840 - May establish rapid transit commission, or commissioner.