Effective - 28 Aug 1969
96.226. Bonds, interest, mature when. — 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.
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(L. 1969 p. 171)
Structure Missouri Revised Statutes
Title VII - Cities, Towns and Villages
Chapter 96 - Municipal Health and Welfare
Section 96.160 - Board of trustees — appointment.
Section 96.170 - Terms of office of trustees — vacancies.
Section 96.175 - Removal of trustees, procedure.
Section 96.180 - Organization of board — rules and regulations.
Section 96.190 - Board to control expenditures, funds — employ assistants.
Section 96.192 - Investment of hospital funds, limitations.
Section 96.195 - Facility funds only to be used — nonliability of city.
Section 96.200 - Annual report — how, when made.
Section 96.210 - Bequests, donations — board to be special trustees.
Section 96.220 - Special taxes under this law to be collected as are regular municipal taxes.
Section 96.222 - Bonds, issuance of — payable from revenue — mortgage authorized.
Section 96.224 - Bonds not indebtedness of state.
Section 96.226 - Bonds, interest, mature when.
Section 96.228 - Bonds secured how, rights of bondholder.
Section 96.229 - Charter hospitals, election to be governed by nonprofit corporation law, procedure.
Section 96.230 - Authorizing certain cities to create social welfare boards.
Section 96.240 - Board — powers and duties.
Section 96.250 - Personnel of board — terms.
Section 96.260 - Board shall meet and organize.
Section 96.270 - Money deposited with treasurer, who shall give bond.