71.440. Joint fire department--cost of maintenance, how met. - Missouri Statutes

Joint fire department--cost of maintenance, how met.

71.440. 1. For the purpose of paying its share of the costof any of the expenditures herein authorized, exclusive of annualcost of maintenance, any city, town or incorporated village whichmay have entered into a joint contract, as provided in sections71.400 to 71.430, may become indebted to an amount exceeding, inany year, the income and revenue provided for such year, theamount of such indebtedness, including existing indebtedness atthe time of incurring the same, not to exceed, in the aggregate,five percent on the value of the taxable property in saidmunicipality, to be ascertained by the assessment next before thelast assessment for state and county purposes previous to theincurring of such indebtedness.

2. To incur such indebtedness, the council, board ofaldermen or board of trustees of the contracting parties, eachacting separately, shall order that the question be submitted tothe voters to determine whether or not bonds shall be issued bysaid municipality, as herein authorized. The notice shall statethe amount of indebtedness to be incurred and of the increase inthe rate of taxation, if any, necessary to discharge suchindebtedness in the manner provided by law.

(RSMo 1939 § 7395, A.L. 1978 H.B. 971)

Prior revision: 1929 § 7244