108.070. Vote required for approval--sale of bonds--tax to be imposed. - Missouri Statutes

Vote required for approval--sale of bonds--tax to be imposed.

108.070. If it appears from the results of the examinationand casting up of the returns of the election as certified tothe county commission that the constitutionally requiredpercentage of the voters of such county voting on the questionsubmitted were in favor of incurring such indebtedness, thecommission shall make an order reciting the submission of thequestion and the result thereof, both for and against thequestion. If the result of the submission of the question ascertified shall be in favor of the issuing of bonds, the bondsshall be sold at such time and in such amounts as the commissionmay from time to time order and direct. The county commissionshall provide for the collection of an annual tax sufficient topay the interest on such indebtedness as it falls due, and alsoto create a sinking fund for the payment of the principalthereof within twenty years from the date of contracting thesame.

(RSMo 1939 § 3296, A.L. 1945 p. 597 § 3298, A.L. 1978 H.B. 971, A.L. 1990 H.B. 1621)

Prior revisions: 1929 § 2909; 1919 § 1057; 1909 § 1264