95.410. Board may levy tax to pay interest on bonds--may issue bonds. - Missouri Statutes

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Statutes > Missouri > T07 > C095 > 95_410

Board may levy tax to pay interest on bonds--may issue bonds.

95.410. The board of aldermen shall have the power tolevy, annually, taxes upon all taxable property within the cityin addition to other taxes, and in sufficient amount for thepurpose of paying the interest and principal as may become dueon all bonds now issued and outstanding, and such taxes shall becollected in the same manner and time as other taxes. The mayorand board of aldermen shall also have power, by ordinance, toissue bonds payable in one year, to an amount not exceeding halfthe current revenue for the fiscal year, and also to issue bondsin renewal of other bonds of the city maturing for the requisiteamount and which the city has no fund to pay. Such renewalbonds shall not bear a greater average rate of interest than didthe original bonds, and shall not run for a longer time than tenyears. The mayor and board of aldermen shall also have power,by ordinance, to issue bonds for the purpose of funding thefloating indebtedness of the city existing at the time of itsincorporation as a city of the fourth class. The mayor andboard of aldermen shall have power, by ordinance, to issue bondsfor the purpose of extinguishing or paying off any indebtednessagainst any such city of the fourth class; provided, suchindebtedness has been contracted by and with the consent of theconstitutionally required percentage of the voters voting infavor of the question and declared by any court of competentjurisdiction to be a legal and valid indebtedness, and which hasor may hereafter become a judgment against such city. Theaggregate amount of such judgment and existing indebtednessshall not exceed the constitutional limit of such city, and suchbonds shall not bear any greater rate of interest than the rateper annum permitted by law, and shall not run for a longer timethan twenty years.

(RSMo 1939 § 7152, A. 1949 H.B. 2043, A.L. 1978 H.B. 971, A.L. 1990 H.B. 1621)
Prior revisions: 1929 § 7002; 1919 § 8453; 1909 § 9355

State Codes and Statutes

Statutes > Missouri > T07 > C095 > 95_410

Board may levy tax to pay interest on bonds--may issue bonds.

95.410. The board of aldermen shall have the power tolevy, annually, taxes upon all taxable property within the cityin addition to other taxes, and in sufficient amount for thepurpose of paying the interest and principal as may become dueon all bonds now issued and outstanding, and such taxes shall becollected in the same manner and time as other taxes. The mayorand board of aldermen shall also have power, by ordinance, toissue bonds payable in one year, to an amount not exceeding halfthe current revenue for the fiscal year, and also to issue bondsin renewal of other bonds of the city maturing for the requisiteamount and which the city has no fund to pay. Such renewalbonds shall not bear a greater average rate of interest than didthe original bonds, and shall not run for a longer time than tenyears. The mayor and board of aldermen shall also have power,by ordinance, to issue bonds for the purpose of funding thefloating indebtedness of the city existing at the time of itsincorporation as a city of the fourth class. The mayor andboard of aldermen shall have power, by ordinance, to issue bondsfor the purpose of extinguishing or paying off any indebtednessagainst any such city of the fourth class; provided, suchindebtedness has been contracted by and with the consent of theconstitutionally required percentage of the voters voting infavor of the question and declared by any court of competentjurisdiction to be a legal and valid indebtedness, and which hasor may hereafter become a judgment against such city. Theaggregate amount of such judgment and existing indebtednessshall not exceed the constitutional limit of such city, and suchbonds shall not bear any greater rate of interest than the rateper annum permitted by law, and shall not run for a longer timethan twenty years.

(RSMo 1939 § 7152, A. 1949 H.B. 2043, A.L. 1978 H.B. 971, A.L. 1990 H.B. 1621)
Prior revisions: 1929 § 7002; 1919 § 8453; 1909 § 9355

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State Codes and Statutes

Statutes > Missouri > T07 > C095 > 95_410

Board may levy tax to pay interest on bonds--may issue bonds.

95.410. The board of aldermen shall have the power tolevy, annually, taxes upon all taxable property within the cityin addition to other taxes, and in sufficient amount for thepurpose of paying the interest and principal as may become dueon all bonds now issued and outstanding, and such taxes shall becollected in the same manner and time as other taxes. The mayorand board of aldermen shall also have power, by ordinance, toissue bonds payable in one year, to an amount not exceeding halfthe current revenue for the fiscal year, and also to issue bondsin renewal of other bonds of the city maturing for the requisiteamount and which the city has no fund to pay. Such renewalbonds shall not bear a greater average rate of interest than didthe original bonds, and shall not run for a longer time than tenyears. The mayor and board of aldermen shall also have power,by ordinance, to issue bonds for the purpose of funding thefloating indebtedness of the city existing at the time of itsincorporation as a city of the fourth class. The mayor andboard of aldermen shall have power, by ordinance, to issue bondsfor the purpose of extinguishing or paying off any indebtednessagainst any such city of the fourth class; provided, suchindebtedness has been contracted by and with the consent of theconstitutionally required percentage of the voters voting infavor of the question and declared by any court of competentjurisdiction to be a legal and valid indebtedness, and which hasor may hereafter become a judgment against such city. Theaggregate amount of such judgment and existing indebtednessshall not exceed the constitutional limit of such city, and suchbonds shall not bear any greater rate of interest than the rateper annum permitted by law, and shall not run for a longer timethan twenty years.

(RSMo 1939 § 7152, A. 1949 H.B. 2043, A.L. 1978 H.B. 971, A.L. 1990 H.B. 1621)
Prior revisions: 1929 § 7002; 1919 § 8453; 1909 § 9355