99.850. Costs of project paid--surplus fund in special allocation fund--distribution--dissolution of fund and redevelopment area.

MISSOURI STATUTES AND CODES

99.850. Costs of project paid--surplus fund in special allocation fund--distribution--dissolution of fund and redevelopment area.

Costs of project paid--surplus fund in special allocationfund--distribution--dissolution of fund and redevelopment area.

99.850. 1. When such redevelopment project costs,including, but not limited to, all municipal obligationsfinancing redevelopment project costs incurred under sections99.800 to 99.865 have been paid, all surplus funds then remainingin the special allocation fund shall be paid by the municipaltreasurer to the county collector who shall immediatelythereafter pay such funds to the taxing districts in the areaselected for a redevelopment project in the same manner andproportion as the most recent distribution by the collector tothe affected districts of real property taxes from real propertyin the area selected for a redevelopment project.

2. Upon the payment of all redevelopment project costs,retirement of obligations and the distribution of any excessmoneys pursuant to section 99.845 and this section, themunicipality shall adopt an ordinance dissolving the specialallocation fund for the redevelopment area and terminating thedesignation of the redevelopment area as a redevelopment area.Thereafter the rates of the taxing districts shall be extendedand taxes levied, collected, and distributed in the mannerapplicable in the absence of the adoption of tax incrementfinancing.

3. Nothing in sections 99.800 to 99.865 shall be construedas relieving property in such areas from paying a uniform rate oftaxes, as required by article X, section 3 of the MissouriConstitution.