Missouri § 164.161 - Restrictions on loans.
Full text of Missouri Revised Statutes of Missouri § 164.161 — Restrictions on loans., with citation guidance and answers to common questions.
§ 164.161. Restrictions on loans.
The loans authorized by sections 164.121 to 164.141 shall not be contracted for a longer period than twenty years, and the entire amount of the loans shall at no time exceed, including the present indebtedness of the district, the maximum aggregate percentage, as set forth in Article VI, Section 26(b) of the Missouri Constitution, of the value of taxable tangible property therein as shown by the last completed assessment for state and county purposes. The rate of interest upon the bonds shall, in no case, exceed the highest legal rate allowed by contract. Before or at the time of issuing the bonds, the board of directors shall provide for the collection of an annual tax sufficient to pay the interest and principal of the bonds as they fall due, and to retire them within twenty years from date contracted.
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(L. 1963 p. 200 § 5-16, A.L. 1999 S.B. 386)
(Source: RSMo 1959 §§ 165.050, 165.500, 165.507)
---- end of effective 28 Aug 1999 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 164.161
What does Revised Statutes of Missouri § 164.161 cover?
Section 164.161 ("Restrictions on loans.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 164.161?
A common citation format is "Revised Statutes of Missouri § 164.161" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 164.161 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.