71.360. Parking facilities, how financed. - Missouri Statutes

Parking facilities, how financed.

71.360. Any such incorporated city, town, or constitutionalcharter county may finance and pay for the planning, designing,acquisition, construction, equipment and improvement of propertyfor parking motor vehicles by any one or combination of thefollowing methods:

(1) General revenue funds, including any proceeds derivedfrom the operation of such parking facilities;

(2) General obligation bonds within legal debt limitations;

(3) Negotiable interest-bearing revenue bonds, the principaland interest of which shall be payable solely from the revenuederived from the operation of such parking facilities, and fromthe proceeds, or any part thereof, from on-street parking meterreceipts of any city or town, which proceeds or any part thereofmay be pledged by the city, town or constitutional charter countyto the retirement of negotiable interest-bearing revenue bonds,which revenue bonds may be issued and sold by such municipalityor constitutional charter county when authorized by the citycouncil, board of aldermen, county council or other legislativeauthority of the city, town or county.

(L. 1947 V. I p. 392 § 7411b, A.L. 1955 p. 300, A.L. 1959 H.B. 328)