245.199. Additional bonds authorized when--how issued. - Missouri Statutes

Additional bonds authorized when--how issued.

245.199. 1. The board of supervisors may, if in their judgment it seemsbest, issue bonds which, when added to the bonded indebtedness thenoutstanding, do not exceed ninety-one percent of the total amount of taxeslevied pursuant to section 245.198. The funds derived from the sale of saidbonds shall be used to pay the costs of works and improvements as shown in thesupplemental plan for reclamation adopted by the board of supervisors pursuantto section 245.105 and to refund outstanding protested warrants.

2. The bonds shall be issued pursuant to and in accordance with theprovisions of section 245.230.

3. Notwithstanding the limitations of sections 245.130 and 245.135 orany tax levy limitation contained in this chapter, the board of supervisors,having levied a tax pursuant to paragraph 1 of this section, may levy a newtax and, if necessary, issue additional bonds whenever it is found necessaryby the board of supervisors to pay the cost of replacing, repairing andreconstructing the works and improvements called for and completed pursuant tothe supplemental plan for reclamation adopted by the board of supervisors.Any tax levied pursuant to this section shall be apportioned to and levied oneach tract of land or property in said district in proportion to thereadjusted assessed benefits. The tax authorized by this section shall belevied in the manner provided by sections 245.180 and 245.185.

4. The additional bonds authorized in paragraph 3 of this section shallbe issued pursuant to and in accordance with the provisions of sections245.181 and 245.230, provided that the additional bonds do not exceedninety-one percent of the amount of new taxes levied pursuant to paragraph 3of this section.

(L. 1977 S.B. 3)