Missouri § 247.550 - District may borrow money — procedure.
Full text of Missouri Revised Statutes of Missouri § 247.550 — District may borrow money — procedure., with citation guidance and answers to common questions.
§ 247.550. District may borrow money — procedure.
1. Any district organized hereunder shall have power to borrow money for any of the purposes provided for in sections 247.230 to 247.670, and to issue bonds therefor. In such event the board of directors shall proceed substantially as follows:
(1) The board shall adopt a resolution reciting the necessity for the borrowing of money, the amount of money necessary to be raised, the purposes thereof, the amount and type or character of bonds to be issued.
(2) Such resolution shall also fix the date of an election to be held for the purpose of testing the sense of the voters of the district on the question to borrow money and issue bonds in evidence thereof.
(3) Such resolution may submit at such election a proposal to issue general obligation bonds or special revenue obligation bonds, or both. Districts organized under the provisions of sections 247.230 to 247.670 may issue either general obligation bonds or special revenue obligation bonds provided that the type or character of bonds to be issued shall be determined by the board of directors in advance of calling the bond election and shall be stated in the notice of election as herein provided.
2. If the question is to issue general obligation bonds, it must be assented to by two-thirds of the voters of the district voting on the question; if the question is to issue special revenue obligation bonds, it must be assented to by four-sevenths of the voters on the question.
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(L. 1949 p. 350 § 32, A.L. 1978 H.B. 971)
---- end of effective 28 Aug 1978 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 247.550
What does Revised Statutes of Missouri § 247.550 cover?
Section 247.550 ("District may borrow money — procedure.") 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 § 247.550?
A common citation format is "Revised Statutes of Missouri § 247.550" (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 § 247.550 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.