173.390. Bond issues--types authorized--rates--option to call for redemption before maturity, requirements--sale--price--cost.
Bond issues--types authorized--rates--option to call forredemption before maturity, requirements--sale--price--cost.
173.390. Bonds of the authority may be issued as serial bonds, asterm bonds, or as a combination of both types. All such bonds issued bythe authority shall be payable solely from and secured by a pledge ofrevenues derived from or by reason of the ownership of student loan notesand investment income or as may be designated in a bond resolutionauthorized by the authority. Such bonds may be executed and delivered bythe authority at any time and from time to time, may be in such form anddenomination or denominations and of such terms and maturities, may be infully registered form or in bearer form, registrable either as to principalor interest or both, may bear such conversion privileges, may be payable insuch installment or installments and at such time or times not exceedingforty years from the date of the issuance thereof, may be payable at suchplace or places whether within or without the state of Missouri, may bearinterest at such rate or rates per annum as determined by the authoritywithout regard to section 108.170, RSMo, may be made payable at such timeor times and at such place or places, may be evidenced in such manner, maybe executed by such officers of the authority, may have attached thereto,in the case of bearer bonds or bonds registrable as to principal only,interest coupons bearing the facsimile signature of the secretary of theauthority, and may contain such provisions not inconsistent herewith, allas shall be provided in the bond resolution or resolutions of the authoritywhereunder the bonds shall be authorized to be issued. If deemed advisableby the authority, there may be retained in the bond resolution under whichany bonds of the authority are authorized to be issued an option to callfor redemption in advance of maturity all or any part of such bonds as maybe specified in the bond resolution, at such price or prices, upon thegiving of such notice or notices, and upon such terms and conditions as maybe set forth in the bond resolution and as may be recited on the face ofthe bonds, but nothing in this section shall be construed to confer uponthe authority the right or option to call for redemption in advance ofmaturity any bonds except as may be provided in the bond resolution underwhich they shall be issued. The bonds of the authority may be sold atpublic or private sale for such price, in such manner, and from time totime as may be determined by the authority notwithstanding the provisionsof section 108.170, RSMo, and the authority may pay all expenses, premiums,and commissions which it may deem necessary or advantageous in connectionwith the issuance thereof from the proceeds of the bonds. Other forms ofindebtedness issued by the authority shall have such terms as may beprovided in a bond resolution authorized by the authority. Any suchindebtedness may bear interest at such rates and be sold in such manner asmay be determined by the authority notwithstanding the provisions ofsection 108.170, RSMo, and the authority may pay all expenses, premiums andcommissions which it may deem necessary or advantageous in connection withthe issuance thereof from proceeds therefrom or from other funds of theauthority.
(L. 1981 H.B. 326, A.L. 1986 H.B. 1356, A.L. 1994 S.B. 583, A.L. 2003 H.B. 221 merged with S.B. 346)