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Missouri Constitution of 1945 Art. VI, § 27(a). Political subdivision revenue bonds issued for utilities and airports, restrictions

Current as of January 01, 2025 | Updated by Findlaw Staff

Any county, city or incorporated town or village in this state, by vote of a majority of the qualified electors thereof voting thereon, may issue and sell its negotiable interest bearing revenue bonds for the purpose of paying all or part of the cost of purchasing, constructing, extending or improving any of the following: (1) revenue producing water, gas or electric light works, heating or power plants; or (2) airports; to be owned exclusively by the county, city or incorporated town or village, the cost of operation and maintenance and the principal and interest of the bonds to be payable solely from the revenues derived by the county, city or incorporated town or village from the operation of the utility or airport.

Revisor's note--1983: Section 27 was adopted by a vote of the people as Constitutional Amendment number seven on Nov. 7, 1978. Sections 27(a), 27(b), and 27(c) also received an affirmative vote of the people at that time as Constitutional Amendment number six, but some believed there was a conflict between the two proposals, and the then governor declared that only Amendment number seven, section 27, had been adopted. However, in the case of State ex inf Ashcroft ex rel Bell vs City of Fulton, 642 S.W.2d 617 (Mo. banc 1982) decided on Dec. 3, 1982, the Missouri Supreme Court ruled that both amendments had been adopted and that sections 27(a), 27(b), and 27(c) were part of the Missouri Constitution. Those sections are accordingly now printed as part of Article VI of the Missouri Constitution.
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Cite this article: FindLaw.com - Missouri Constitution of 1945 Art. VI, § 27(a). Political subdivision revenue bonds issued for utilities and airports, restrictions - last updated January 01, 2025 | https://codes.findlaw.com/mo/missouri-constitution-of-1945/mo-const-art-6-sect-27-a/

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