Section 360.100

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 360

Effective - 28 Aug 1975   

  360.100.  Conveyance to participating institution, when made. — When the principal of and interest on bonds issued by the authority to finance the cost of facilities or to refinance outstanding indebtedness of one or more participating health institutions or participating educational institutions, as the case may be, including any bonds issued to refund and refinance such bonds, shall have been fully paid and retired or when adequate provision shall have been made fully to pay and retire the same and all other conditions of the resolution, the lease, the trust indenture, and the mortgage or deed of trust, if any, authorizing and securing the same shall have been satisfied, the lien of the mortgage or deed of trust, if any, authorizing and securing the same shall have been satisfied, and the lien of the mortgage or deed of trust shall have been released in accordance with the provisions thereof, the authority promptly shall do all things and execute such deeds and conveyances as are necessary and required to convey its right, title, and interest in the facilities so financed and any other facilities mortgaged to secure the bonds to the participating health institution or institutions or to the participating educational institution or institutions, as the case may be.

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(L. 1975 H.B. 70 § 18)