238.227. Funding mechanisms authorized--deposits with commission or authority, purpose. - Missouri Statutes

Funding mechanisms authorized--deposits with commission orauthority, purpose.

238.227. 1. A district may use any one or more of the taxes or otherfunding methods specifically authorized by sections 238.200 to 238.275 tofund a project.

2. At any time during the existence of the district the board maysubmit or resubmit a proposed funding method authorized by sections 238.200to 238.275 for a project to the qualified voters for approval.

3. The commission may by contract with a district receive any revenuereceived by the district from any funding method authorized by sections238.200 to 238.275. Such revenue shall be deposited by the commissionpursuant to section 227.180, RSMo, and applied by the commission to projectcosts including debt service on revenue bonds or refunding bonds issued bythe district or the commission under sections 238.200 to 238.275.

4. If the proposed project is not intended to be merged into thestate highways and transportation system under the commission'sjurisdiction, the local transportation authority that will assumemaintenance of the project may by contract with a district receive anyrevenue received by the district and deposit such revenue in a specialtrust account. Such revenue and interest therefrom shall be applied by thelocal transportation authority to project costs or debt service on revenuebonds issued by the district or the local transportation authority pursuantto sections 238.200 to 238.275.

(L. 1990 S.B. 479 & 649 § 46, A.L. 1997 S.B. 303)