72.335. Bonded indebtedness, effect on--notice of indebtedness required in resolution and election notice. - Missouri Statutes

Bonded indebtedness, effect on--notice of indebtedness required inresolution and election notice.

72.335. The bonded indebtedness of each municipality beingabsorbed at the time of the absorption which was incurred for thepurpose of purchasing, constructing or repairing localimprovements or facilities for the residents in the area of amunicipality being absorbed shall continue to be the debt of thetaxpayers in the area of the municipality being absorbed and aspecial tax sufficient to retire the indebtedness shall be leviedagainst the property within the area of the municipality beingabsorbed, but the bonded indebtedness of any municipalityinvolved in the absorption which was incurred for the purpose ofpurchasing, constructing or repairing improvements or facilitieswhich are to be used generally by the entire area of themunicipality which absorbs the others shall become theindebtedness of the entire area of the absorbing municipality andthe area which it absorbed. The question as originally submittedby resolutions and the notice of the election shall list eachseparate bonded indebtedness of the municipalities involved andshall clearly indicate whether the tax necessary to retire it isto be levied generally or locally.

(L. 1976 H.B. 1017 § 8, A.L. 1978 H.B. 971)