Missouri Revised Statutes
Chapter 164 - Tax Levies and Bonded Indebtedness
Section 164.051 - Outstanding obligations of lapsed or dissolved districts, procedure to pay — tax levy, proceeds how allocated.

Effective - 17 Apr 1992
164.051. Outstanding obligations of lapsed or dissolved districts, procedure to pay — tax levy, proceeds how allocated. — 1. Whenever any school district lapses or is dissolved, which at the time of lapse or dissolution has any bonds or other obligations outstanding and unpaid, the county commission, county council or county legislature of the county, or if the district embraced territory in two or more counties then the county commission, county council or county legislature of the county in which the greater portion of the assessed valuation of the district lies, on or before the first day of May of each year, shall ascertain and certify to the county clerk or clerks, as the case may be, the rate of taxation necessary to be levied upon the taxable property within the former corporate limits or boundary lines of the district, sufficient to pay the interest on and the principal of bonds falling due during the succeeding year.
2. The county clerk of the county or counties, upon receipt of the certificate and at the time it is required by law to determine and levy the rate of taxation for county, school, road and other taxes, shall make an order levying the rate of taxation so certified by the county commission, county council or county legislature upon the taxable property within the former corporate limits or boundary lines of the district, and the tax shall be extended in the tax book and collected in the same manner as other school taxes. When collected, the revenue shall be paid to the county treasurer of the county which had the largest number of acres of land in the district, or in which the greater portion of the assessed valuation of the district lies, and he shall deposit the moneys received by him in the bank, trust company or other place where the principal and interest of the bonds of the district are payable.
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(L. 1963 p. 200 § 5-5, A.L. 1973 H.B. 158, A.L. 1992 S.B. 581)
(Source: RSMo 1959 § 165.333)
Effective 4-17-92

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XI - Education and Libraries

Chapter 164 - Tax Levies and Bonded Indebtedness

Section 164.011 - Annual estimate of required funds, tax rates required, criteria for exceptions — estimates, where sent — department duties.

Section 164.013 - Schools, certain districts, operating levy adjustment required when, effect — not to affect senior citizen tax relief benefit.

Section 164.021 - Excess levy, procedure.

Section 164.031 - Form of ballot.

Section 164.041 - County clerk to assess the rate returned and extend taxes on tax books.

Section 164.051 - Outstanding obligations of lapsed or dissolved districts, procedure to pay — tax levy, proceeds how allocated.

Section 164.071 - Levy and collection of taxes in metropolitan districts.

Section 164.081 - Levy of library building tax — vote required — rate and period of levy.

Section 164.091 - Notice of election.

Section 164.101 - Form of ballot.

Section 164.111 - Levy and collection of tax — library building fund.

Section 164.121 - Purposes for which bonds may be issued in districts other than metropolitan and urban.

Section 164.131 - Purposes for which bonds may be issued in urban districts — notice to contain certain information.

Section 164.141 - Purposes for which bonds may be issued in metropolitan districts — notice to contain certain information.

Section 164.151 - Form of ballot in all districts — percentage required for approval.

Section 164.161 - Restrictions on loans.

Section 164.181 - Duties of treasurer of seven-director districts — liability.

Section 164.191 - Issuance by any district of funding and refunding bonds — record.

Section 164.201 - Exchange and sale of refunding bonds — restrictions.

Section 164.221 - Redeemed bonds of school districts to be destroyed — record — witnesses.

Section 164.231 - Issuance of revenue bonds to pay for dormitory, athletic stadiums by seven-director districts — security for bonds.

Section 164.241 - Approval by two-thirds of directors required for issuance of bonds.

Section 164.251 - Bonds not to constitute an indebtedness.

Section 164.261 - Bonds, denomination, interest rate, contents — negotiable — income exempt from state tax — how sold.

Section 164.271 - Board may prescribe form and detail of bonds — may be compelled to perform duties and agreements of district.

Section 164.281 - Operating expense may include cost of athletic equipment and uniforms.

Section 164.291 - Records of bonds, payment and revenues to be kept — disposition of surplus revenues.

Section 164.301 - Refunding of bonds.

Section 164.303 - School district bond fund established, purpose to fund health and educational facilities authority, costs and grants — lapse into general revenue fund, prohibited.