Missouri § 249.953 - Separate account created for each project — balance in fund after project paid for, effect — refund to property owner, when — assessment reduced, when.
Full text of Missouri Revised Statutes of Missouri § 249.953 — Separate account created for each project — balance in fund after project paid for, effect — refund to property owner, when — assessment reduced, when., with citation guidance and answers to common questions.
§ 249.953. Separate account created for each project — balance in fund after project paid for, effect — refund to property owner, when — assessment reduced, when.
A separate fund or account shall be created in the city or county treasury for each improvement project and each such fund or account shall be identified by a suitable title. The proceeds from the sale of bonds and temporary notes and any other moneys appropriated thereto by 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 the 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, shall be credited to such funds or accounts. Such funds or accounts shall be used solely to pay the costs incurred in making each respective improvement. Upon completion of an improvement, the balance remaining in the fund or account established for such improvement, if any, shall be credited against the amount of the original assessment of each parcel of property, on a pro rata basis based on the amount of the original assessment, and with respect to property owners that have prepaid their assessments in accordance with sections 249.941 to 249.945, the amount of each such credit shall be refunded to the appropriate property owner, and with respect to all other property owners, the amount of each such credit shall be transferred and credited to such city or county bond and interest fund to be used solely to pay the principal of and interest on the bonds or temporary notes and the assessments shall be reduced accordingly by the amount of such credit.
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(L. 1995 H.B. 88 § 18)
---- end of effective 28 Aug 1995 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 249.953
What does Revised Statutes of Missouri § 249.953 cover?
Section 249.953 ("Separate account created for each project — balance in fund after project paid for, effect — refund to property owner, when — assessment reduced, when.") 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 § 249.953?
A common citation format is "Revised Statutes of Missouri § 249.953" (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 § 249.953 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.