Missouri § 249.927 - Sewage or storm water facility improvement district, certain city and counties may issue general obligation bonds, purpose — issue assessment against property to pay for improvements.

§ 249.927. Sewage or storm water facility improvement district, certain city and counties may issue general obligation bonds, purpose — issue assessment against property to pay for improvements.

The governing body of any city with a population of three hundred fifty thousand or more inhabitants which is located in more than one county, or the governing body of any county of the first classification without a charter form of government that has a population of at least one hundred sixty thousand inhabitants, or the governing body of any county of the first classification without a charter form of government containing a portion of a city with a population of at least three hundred fifty thousand inhabitants, or the governing body of any county of the first classification without a charter form of government as of August 28, 1995, that has a population of more than one hundred five thousand but less than one hundred twenty thousand inhabitants, may make, or cause to be made, improvements which confer a benefit upon property within a sewage or storm water facility improvement district pursuant to sections 249.925 to 249.955.  The governing body of such city or county of the first classification may incur indebtedness and issue temporary notes and general obligation bonds of such city or county pursuant to sections 249.925 to 249.955 to pay for all or part of the cost of such improvements.  An improvement may be combined with one or more other improvements for the purpose of issuing a single series of general obligation bonds to pay all or part of the cost of such improvements, but separate funds or accounts shall be established within the records of the city or county for each improvement as provided in section 249.953.  The temporary notes and general obligation bonds issued by the city or county shall be a debt of the sewage or storm water facility improvement district and such city or county shall assess assessments against each property deemed by the governing body of the city or county to be benefitted by each such improvement pursuant to sections 249.929 to 249.933.  The city or county shall use the moneys collected from such assessments to reimburse such city or county for all amounts paid or to be paid by it as principal of and interest on its temporary notes and general obligation bonds issued for such improvements.

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(L. 1995 H.B. 88 § 10)

---- end of effective  28 Aug 1995 ----

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