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Current as of January 01, 2025 | Updated by Findlaw Staff
1. All bonds, notes and other obligations of the district are payable solely out of the contributions made by the member counties or from revenues and receipts derived from the operation of the district's facilities.
2. All obligations of the district constitute negotiable instruments.
3. Obligations of the district shall not be deemed a debt, liability or pledge of the faith and credit of the state, of any member county, or of any other political subdivision of the state. The issuance of district obligations shall not, directly, indirectly or contingently, obligate the state, a member county or any other political subdivision to levy any form of taxation or to make any appropriation for their payment.
4. The district is declared to be performing a public function on behalf of the member counties and to be a public instrumentality of such counties. Accordingly:
(1) The income of the district and all properties owned by the district are exempt from all taxation in the state of Missouri;
(2) For the purposes of section 409.402, obligations of the district are deemed to be securities issued by a public instrumentality or political subdivision of the state of Missouri; and
(3) Interest on obligations of the district is exempt from income taxation by the state of Missouri.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XIII. Correctional and Penal Institutions § 221.425. Regional jail district solely liable for its debts--income exempt from state taxes - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xiii-correctional-and-penal-institutions/mo-rev-st-221-425/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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