2017 Missouri Revised Statutes
Title XV LANDS, LEVEES, DRAINAGE, SEWERS AND PUBLIC WATER SUPPLY
Chapter 242 Drainage Districts Organized in Circuit Court
Section 242.504 Supervisors may issue bonds, limitation on.
Effective 28 Aug 1977
Title XV LANDS, LEVEES, DRAINAGE, SEWERS AND PUBLIC WATER SUPPLY
Chapter 242242.504. Supervisors may issue bonds, limitation on. — 1. The board of supervisors may, if in their judgment it seems best, issue bonds which, when added to the bonded indebtedness then outstanding, do not exceed ninety percent of the total amount of taxes levied pursuant to section 242.502. The funds derived from the sale of said bonds shall be used to pay the costs of drainage works and improvements as shown in the supplemental plan for reclamation adopted by the board of supervisors pursuant to section 242.230 and to refund outstanding protested warrants.
2. The bonds shall be issued pursuant to and in accordance with the provisions of section 242.480.
(L. 1977 S.B. 2)
