360.100. Conveyance to participating institution, when made.
Conveyance to participating institution, when made.
360.100. When the principal of and interest on bonds issuedby the authority to finance the cost of facilities or torefinance outstanding indebtedness of one or more participatinghealth institutions or participating educational institutions, asthe case may be, including any bonds issued to refund andrefinance such bonds, shall have been fully paid and retired orwhen adequate provision shall have been made fully to pay andretire the same and all other conditions of the resolution, thelease, the trust indenture, and the mortgage or deed of trust, ifany, authorizing and securing the same shall have been satisfied,the lien of the mortgage or deed of trust, if any, authorizingand securing the same shall have been satisfied, and the lien ofthe mortgage or deed of trust shall have been released inaccordance with the provisions thereof, the authority promptlyshall do all things and execute such deeds and conveyances as arenecessary and required to convey its right, title, and interestin the facilities so financed and any other facilities mortgagedto secure the bonds to the participating health institution orinstitutions or to the participating educational institution orinstitutions, as the case may be.
(L. 1975 H.B. 70 § 18)