233.375. Special tax payable in installments--interest--special assessments. - Missouri Statutes

Special tax payable in installments--interest--special assessments.

233.375. 1. Whenever a special tax is so ordered and thecounty commission ascertains and recites in such order that thepetitioners stated in their petition that they desire that thecost of the improvement be payable in more than one installmentthe special tax ordered assessed shall be payable in the numberof installments, not exceeding fifteen, so found to be desired,which installments shall be equal, and each tract of land in thedistrict shall be charged with interest which shall beapportioned against the lands in the district by the same rule ofapportionment as the principal special tax.

2. The payments of such installments, and such interestcharge and the payments thereof, shall be as follows:

(1) If such order is made on or after the first day ofJanuary and before the first day of November of any year, thefirst installment shall be payable on the thirty-first day ofDecember following the date of such order, with interest on theprincipal of the tax, at the rate of six percent per annum, fromthe date of such order until the first day of April after thedate such installment becomes payable, and one installment shallbecome payable on the thirty-first day of each Decemberthereafter with interest at such rate on the portion of theprincipal tax then unpaid, from the thirty-first day of theprevious December until the first day of the following April,until the entire tax is paid.

(2) If such order is made on or after the first day ofNovember of any year, the first installment of such special taxshall be payable on the thirty-first day of December of the nextyear after the date of such order, with interest at such rate onthe principal tax from the date of such order until the first dayof April after the date such first installment becomes payable,and thereafter an installment shall be payable on thethirty-first day of each December, with interest at such rate onthe principal tax then unpaid, from the thirty-first day of theprevious December to the first day of the following April, untilthe entire principal of the tax is paid.

(RSMo 1939 § 8848)

Prior revisions: 1929 § 8188; 1919 § 10949