164.011. Annual estimate of required funds, tax rates required, criteria for exceptions--estimates, where sent. - Missouri Statutes

Annual estimate of required funds, tax rates required, criteria forexceptions--estimates, where sent.

164.011. 1. The school board of each district annually shall preparean estimate of the amount of money to be raised by taxation for the ensuingschool year, the rate required to produce the amount, and the ratenecessary to sustain the school or schools of the district for the ensuingschool year, to meet principal and interest payments on the bonded debt ofthe district and to provide the funds to meet other legitimate districtpurposes. In preparing the estimate, the board shall have sole authorityin determining what part of the total authorized rate shall be used toprovide revenue for each of the funds as authorized by section 165.011,RSMo. Prior to setting tax rates for the teachers' and incidental funds,the school board of each school district annually shall set the tax ratefor the capital projects fund as necessary to meet the expenditures of thecapital projects fund after all transfers allowed pursuant to subsection 4of section 165.011, RSMo. Furthermore the tax rate set in the capitalprojects fund shall not require the reduction of the equalized combined taxrates for the teachers' and incidental funds to be less than the greater ofthe minimum operating levy for the current year for school purposesestablished under subsection 2 of section 163.021, RSMo.

2. The school board of each district shall forward the estimate tothe county clerk on or before September first. In school districts dividedby county lines, the estimate shall be forwarded to the proper officer ofeach county in which any part of the district lies.

(L. 1963 p. 200 § 5-1, A.L. 1971 H.B. 469, A.L. 1987 H.B. 909, A.L. 1994 S.B. 676, A.L. 1995 S.B. 255, A.L. 1996 S.B. 795, et al., A.L. 1998 S.B. 658, A.L. 2005 S.B. 287)

(Source: RSMo 1959 §§ 165.077, 165.477, 165.480)

Effective 7-01-06