2011 Missouri Revised Statutes
TITLE XIV ROADS AND WATERWAYS
Chapter 238 Projects
Section 238.240. Indebtedness, authorized--bonds, authority to issue--limitations.
Indebtedness, authorized--bonds, authority to issue--limitations.
238.240. 1. A district may contract and incur liabilities appropriate to accomplish its purposes.
2. It may lease or lease-purchase any real or personal property necessary or convenient for its purposes.
3. It may borrow money for its purposes at such rates of interest as the district may determine.
4. It may issue bonds, notes and other obligations, and may secure any of such obligations by mortgage, pledge, assignment or deed of trust of any or all of the property and income of the district, subject to the restrictions provided in sections 238.200 to 238.275. The district shall not mortgage, pledge or give a deed of trust on any real property or interests which it obtained by eminent domain. The district shall not mortgage, pledge or give a deed of trust on any real property or interests which it acquired from the state of Missouri or any agency or political subdivision thereof without the written consent of the state, agency or political subdivision from which it obtained the property.
(L. 1990 S.B. 479 & 649 51, A.L. 1997 S.B. 303, A.L. 1998 S.B. 861)
Annotation Copyright Missouri Joint Committee on Legislative Research
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