108.910. Tangible property tax, when levied. - Missouri Statutes

Tangible property tax, when levied.

108.910. If at any time after the issuance of any of thebonds it becomes apparent to the commissioner of administrationthat the funds available in the state revenue fund will not besufficient for the payment of principal and interest onoutstanding obligations of the state, and for the purpose ofpublic education, and the principal and interest maturing andaccruing on the bonds issued hereunder during the nextsucceeding fiscal year, a direct tax shall be levied upon alltaxable tangible property in the state for the payment of thebonds and the interest that will accrue thereon. In such event,the commissioner of administration shall annually, on or beforethe first day of July, determine the rate of taxation necessaryto be levied upon all taxable tangible property within the stateto raise the amount of money needed to pay the principal andinterest on such bonds maturing and accruing in the nextsucceeding fiscal year, taking into consideration availablefunds, delinquencies and costs of collection. The commissionerof administration shall annually certify the rate of taxation sodetermined to the county clerk of each county and to thecomptroller or other officer in the city of St. Louis whose dutyit is to make up and certify the tax books wherein are extendedthe ad valorem state taxes. The clerks and the comptroller, orother proper officer in the city of St. Louis, shall extend uponthe tax books the taxes to be collected and shall certify thesame to the collectors of the revenue of their respectivecounties and of the city of St. Louis, who shall collect suchtaxes at the same time and in the same manner and by the samemeans as are now or may hereafter be provided by law for thecollection of state and county taxes, and pay the same into thestate treasury for the credit of the third state building bondinterest and sinking fund.

(L. 1982 2nd Ex. Sess. S.B. 1 § 11)

Effective 12-20-82