Missouri § 246.277 - Loans authorized for political subdivision located in disaster area of 1993 — terms.
Full text of Missouri Revised Statutes of Missouri § 246.277 — Loans authorized for political subdivision located in disaster area of 1993 — terms., with citation guidance and answers to common questions.
§ 246.277. Loans authorized for political subdivision located in disaster area of 1993 — terms.
1. The governing body of any political subdivision of this state located in a county which has been declared a major disaster area as provided in section 140.015 may, upon a vote of the majority of the members of the governing body, borrow money in anticipation of the collection of taxes and revenues for the current year or immediately following year. The amount of such loans shall at no time exceed the amount of revenue required to meet the estimated revenue requirements placed on such political subdivision as a result of the provisions of section 140.015. The governing body of such political subdivision, in accordance with this section, shall determine the amount and terms of such loans and of the terms of the political subdivision's obligation to repay the loan, but the payment of interest on such loan shall not exceed six percent per annum, and shall be payable within one year from the date of issuance.
2. The clerk or secretary of the governing body, or if none the presiding officer of the governing body, shall certify on the back of each note that the note is issued pursuant to authority granted in this section. All notes issued under this section shall be registered, without fee, in the office of the county treasurer of the county where the political subdivision lies. Upon payment and cancellation, the notes shall be submitted to the county treasurer who shall record the date of payment and cancellation in the record of registry.
3. The provisions of this section shall not apply to political subdivisions which, under the provisions of law existing prior to September 30, 1993, are authorized to borrow money in anticipation of the collection of taxes and revenues.
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(L. 1993 1st Ex. Sess. S.B. 3 § 3)
Effective 9-30-93
---- end of effective 30 Sep 1993 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 246.277
What does Revised Statutes of Missouri § 246.277 cover?
Section 246.277 ("Loans authorized for political subdivision located in disaster area of 1993 — terms.") 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 § 246.277?
A common citation format is "Revised Statutes of Missouri § 246.277" (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 § 246.277 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.