100.059. Notice of proposed project for industrial development, when, contents--limitation on indebtedness, inclusions--applicability, limitation.

MISSOURI STATUTES AND CODES

100.059. Notice of proposed project for industrial development, when, contents--limitation on indebtedness, inclusions--applicability, limitation.

Notice of proposed project for industrial development, when,contents--limitation on indebtedness, inclusions--applicability,limitation.

100.059. 1. The governing body of any municipality proposing a projectfor industrial development which involves issuance of revenue bonds orinvolves conveyance of a fee interest in property to a municipality shall, notless than twenty days before approving the plan for a project as required bysection 100.050, provide notice of the proposed project to the county in whichthe municipality is located and any school district that is a school district,community college district, county, or city; however, in any county of thefirst classification with more than ninety-three thousand eight hundred butfewer than ninety-three thousand nine hundred inhabitants, or any county ofthe first classification with more than one hundred thirty-five thousand fourhundred but fewer than one hundred thirty-five thousand five hundredinhabitants, if the plan for the project is approved after May 15, 2005, suchnotice shall be provided to all affected taxing entities in the county. Suchnotice shall include the information required in section 100.050, shall statethe date on which the governing body of the municipality will first considerapproval of the plan, and shall invite such school districts, communitycollege districts, counties, or cities to submit comments to the governingbody and the comments shall be fairly and duly considered.

2. Notwithstanding any other provisions of this section to the contrary,for purposes of determining the limitation on indebtedness of local governmentpursuant to section 26(b), article VI, Constitution of Missouri, the currentequalized assessed value of the property in an area selected for redevelopmentattributable to the increase above the total initial equalized assessedvaluation shall be included in the value of taxable tangible property as shownon the last completed assessment for state or county purposes.

3. The county assessor shall include the current assessed value of allproperty within the school district, community college district, county, orcity in the aggregate valuation of assessed property entered upon theassessor's book and verified pursuant to section 137.245, RSMo, and such valueshall be utilized for the purpose of the debt limitation on local governmentpursuant to section 26(b), article VI, Constitution of Missouri.

4. This section is applicable only if the plan for the project isapproved after August 28, 2003.