242.485. Additional bond issue authorized, when--form of ballot. - Missouri Statutes

Additional bond issue authorized, when--form of ballot.

242.485. 1. The board of supervisors may, if in their judgment it seemsbest, issue additional bonds which do not exceed ninety percent of the amountof new taxes levied pursuant to paragraph 2 of section 242.450. The fundsderived from the sale of said bonds shall be used only to pay the costs ofreplacing, repairing, and reconstructing the drainage works and improvementscalled for and completed pursuant to the plan for reclamation originallyadopted by the board of supervisors.

2. The board of supervisors shall issue such additional bonds only if,at a meeting called for such purpose, the issuance of the bonds obtains theapproval of the owners of two-thirds of the acreage in the district havingbenefits assessed against it. The owners of property within the districtshall vote at such meeting in the manner provided in sections 242.150 and242.160.

3. Notice for the meeting referred to in paragraph 2 shall be insubstantially the following form:

NOTICE OF MEETING OF ..............

DRAINAGE DISTRICT

Notice is hereby given to owners of land and other property in .......... drainage district of Missouri that a meeting will be held on ..............,20...., at ...... o'clock at .............. in ........ County for the purposeof approving the issuance of bonds to finance the cost of replacing, repairingand reconstructing the drainage works and improvements called for andcontemplated in the plan for reclamation originally adopted by the board ofsupervisors, and transacting such further business as may come before saidmeeting. The meeting will be open to the public.

Done by order of the Board of Supervisors this ....... day of.............., 20....

....................................

Secretary of the Board of Supervisors

4. The secretary shall cause the notice of the meeting to be publishedonce a week for two consecutive weeks in some newspaper published in eachcounty in which lands of the district are situated, the last insertion to beat least ten days before the day of such meeting.

5. The bonds shall be issued in all other respects pursuant to and inaccordance with the provisions of section 242.480.

(L. 1977 S.B. 2)