95.135. Annual tax to pay principal and interest--indebtedness to be retired in twenty years. - Missouri Statutes

Annual tax to pay principal and interest--indebtedness to beretired in twenty years.

95.135. Before incurring any indebtedness under theprovisions of sections 95.115 to 95.130, every city, incorporatedtown or village, whether organized under the general laws of thisstate or by special charter or by constitutional charter, shallprovide for the collection of an annual tax on all taxabletangible property therein sufficient to pay the interest andprincipal of the indebtedness as they fall due, and to retire thesame within twenty years from the date contracted.

(L. 1945 p. 1299 § 7368d)

CROSS REFERENCE:

Proceeds and sinking funds of bonds--to be kept separately, RSMo 108.180 to 108.230