Section 108.070 Vote required for approval — sale of bonds

Section 108.070 Vote required for approval — sale of bonds — tax to be imposed.

MO Rev Stat § 108.070 (2019) (N/A)

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Effective 28 Aug 1990

108.070. Vote required for approval — sale of bonds — tax to be imposed. — If it appears from the results of the examination and casting up of the returns of the election as certified to the county commission that the constitutionally required percentage of the voters of such county voting on the question submitted were in favor of incurring such indebtedness, the commission shall make an order reciting the submission of the question and the result thereof, both for and against the question. If the result of the submission of the question as certified shall be in favor of the issuing of bonds, the bonds shall be sold at such time and in such amounts as the commission may from time to time order and direct. The county commission shall provide for the collection of an annual tax sufficient to pay the interest on such indebtedness as it falls due, and also to create a sinking fund for the payment of the principal thereof within twenty years from the date of contracting the same.

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(RSMo 1939 § 3296, A.L. 1945 p. 597 § 3298, A.L. 1978 H.B. 971, A.L. 1990 H.B. 1621)

Prior revisions: 1929 § 2909; 1919 § 1057; 1909 § 1264

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Section 108.080 Bonds — denominations, interest rate — depositary (county).