393.740. Certain taxes applicable. - Missouri Statutes

Certain taxes applicable.

393.740. 1. All bonds issued pursuant to sections 393.700 to 393.770and all income or interest thereon shall be exempt from all state taxes,except estate and transfer taxes.

2. All property, real and tangible personal, except for propertiesacquired exclusively for water supply districts and water supplycommissions, acquired by the bonds issued pursuant to sections 393.700 and393.770 or otherwise acquired by a commission shall be subject to taxationfor state, county, and municipal and other local purposes only to the sameextent as if such property was owned directly by each contracting orparticipating municipality in such proportion or manner as specified bycontract among all contracting or participating municipalities party to aproject or if not specified in proportion to the percentage of eachmunicipality's interest or participation in the facility or property.

(L. 1978 H.B. 1126 § 9, A.L. 1986 S.B. 488, A.L. 2002 H.B. 1402, A.L. 2004 H.B. 1171, A.L. 2007 S.B. 22)