95.115. Cities and towns may incur indebtedness, how. - Missouri Statutes

Cities and towns may incur indebtedness, how.

95.115. Any city, incorporated town or village of thestate, whether organized under the general laws of this state orby special charter or by constitutional charter, by vote of theconstitutionally required percentage of the electors thereofvoting thereon, may become indebted in an amount exceeding inany year the income and revenue provided for such year plus anyunencumbered balances from previous years for any purposeauthorized in the charter of such city, incorporated town orvillage, or by any general law of this state. Such indebtednessshall not exceed five percent of the value of taxable tangibleproperty therein as shown by the last completed assessment forstate and county purposes.

(RSMo 1939 § 7368, A.L. 1945 p. 1299, A.L. 1978 H.B. 971, A.L. 1990 H.B. 1621)

Prior revisions: 1929 § 7217; 1919 § 8656; 1909 § 9544