Missouri § 243.563 - Proceeds of assessment insufficient to pay principal and interest on bonds, procedure — funds derived from bond sale, purpose.
Full text of Missouri Revised Statutes of Missouri § 243.563 — Proceeds of assessment insufficient to pay principal and interest on bonds, procedure — funds derived from bond sale, purpose., with citation guidance and answers to common questions.
§ 243.563. Proceeds of assessment insufficient to pay principal and interest on bonds, procedure — funds derived from bond sale, purpose.
1. It shall be the duty of the county commission in making assessments, as provided in this chapter, to take into account the maturing bonds and interest on all bonds, and to make ample provisions in advance for the payment thereof. In case the proceeds of the assessment made under the provisions of sections 243.550 to 243.553 are not sufficient to pay the principal and interest of all bonds issued, then the county commission shall make such additional levy or levies upon benefits assessed as are necessary for this purpose, and under no circumstances shall any assessment be made that will in any manner or to any extent impair the security of the bonds or the fund available for the payment of the principal and interest of the same.
2. The funds derived from the sale of the bonds or any of them shall be used for the purpose of paying the cost of the drainage works and improvements and such costs, expenses, fees and salaries as may be authorized by law and used for no other purpose.
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(L. 1993 S.B. 56 § 243.560 subsecs. 4, 5)
---- end of effective 28 Aug 1993 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 243.563
What does Revised Statutes of Missouri § 243.563 cover?
Section 243.563 ("Proceeds of assessment insufficient to pay principal and interest on bonds, procedure — funds derived from bond sale, purpose.") 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 § 243.563?
A common citation format is "Revised Statutes of Missouri § 243.563" (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 § 243.563 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.