164.051. Outstanding obligations of lapsed or dissolved districts, procedure to pay--tax levy, proceeds how allocated.

MISSOURI STATUTES AND CODES

164.051. Outstanding obligations of lapsed or dissolved districts, procedure to pay--tax levy, proceeds how allocated.

Outstanding obligations of lapsed or dissolved districts, procedureto pay--tax levy, proceeds how allocated.

164.051. 1. Whenever any school district lapses or isdissolved, which at the time of lapse or dissolution has anybonds or other obligations outstanding and unpaid, the countycommission, county council or county legislature of the county,or if the district embraced territory in two or more countiesthen the county commission, county council or county legislatureof the county in which the greater portion of the assessedvaluation of the district lies, on or before the first day of Mayof each year, shall ascertain and certify to the county clerk orclerks, as the case may be, the rate of taxation necessary to belevied upon the taxable property within the former corporatelimits or boundary lines of the district, sufficient to pay theinterest on and the principal of bonds falling due during thesucceeding year.

2. The county clerk of the county or counties, upon receiptof the certificate and at the time it is required by law todetermine and levy the rate of taxation for county, school, roadand other taxes, shall make an order levying the rate of taxationso certified by the county commission, county council or countylegislature upon the taxable property within the formercorporate limits or boundary lines of the district, and the taxshall be extended in the tax book and collected in the samemanner as other school taxes. When collected, the revenue shallbe paid to the county treasurer of the county which had thelargest number of acres of land in the district, or in which thegreater portion of the assessed valuation of the district lies,and he shall deposit the moneys received by him in the bank,trust company or other place where the principal and interest ofthe bonds of the district are payable.