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Current as of January 01, 2025 | Updated by Findlaw Staff
Unless otherwise provided in the proposition as voted upon, the bonded indebtedness of each municipality at the time of the consolidation which was incurred for the purpose of purchasing, constructing or repairing local improvements or facilities for the residents of the municipality shall continue to be the debt of the taxpayers in the area of the former municipality and a special tax sufficient to retire the indebtedness shall be levied against the property within the area of the former municipality, but the bonded indebtedness of any municipality which was incurred for the purpose of purchasing, constructing or repairing improvements or facilities which are to be used generally by the consolidated municipality shall become the indebtedness of the consolidated municipality. The question as originally submitted shall list each separate bonded indebtedness of the municipalities and shall clearly indicate whether the tax necessary to retire it is to be levied generally or locally.
Cite this article: FindLaw.com - Missouri Revised Statutes Title VII. Cities, Towns and Villages § 72.195. Bonded indebtedness of municipalities to become debt of consolidated municipality--when - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-vii-cities-towns-and-villages/mo-rev-st-72-195/
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