234.290. Bonds may be called--notice to be given.
Bonds may be called--notice to be given.
234.290. In the issuance of toll bridge revenue bonds ortoll bridge revenue refunding bonds under the provisions ofsections 234.210 to 234.300, the issuing authority may reserveunto itself the right, at its option, to call in, pay and redeemsuch bonds prior to the maturity date or dates thereof at suchpremium as such issuing authority may designate in such bonds,but not exceeding a premium equal to five percent of theprincipal amount of such bonds; provided, however, that wheneverit is desired to exercise the aforesaid right, if reserved insuch bonds, the issuing authority shall cause written noticethereof to be delivered to the bank or office at which such bondsare payable, and such notice shall be so delivered not less thanthirty days prior to the interest payment date designated for theredemption of such bonds, after which date, so designated, nofurther interest shall accrue on the bonds so called forredemption. Notice of the exercise of such right shall also befiled with the state auditor of Missouri, as provided by section108.260, RSMo.
(L. 1941 p. 525 § 5e)