Section 238.227

Title XIV ROADS AND WATERWAYS

Chapter 238

Effective - 28 Aug 1997   

  238.227.  Funding mechanisms authorized — deposits with commission or authority, purpose. — 1.  A district may use any one or more of the taxes or other funding methods specifically authorized by sections 238.200 to 238.275 to fund a project.

  2.  At any time during the existence of the district the board may submit or resubmit a proposed funding method authorized by sections 238.200 to 238.275 for a project to the qualified voters for approval.

  3.  The commission may by contract with a district receive any revenue received by the district from any funding method authorized by sections 238.200 to 238.275.  Such revenue shall be deposited by the commission pursuant to section 227.180 and applied by the commission to project costs including debt service on revenue bonds or refunding bonds issued by the district or the commission under sections 238.200 to 238.275.

  4.  If the proposed project is not intended to be merged into the state highways and transportation system under the commission's jurisdiction, the local transportation authority that will assume maintenance of the project may by contract with a district receive any revenue received by the district and deposit such revenue in a special trust account.  Such revenue and interest therefrom shall be applied by the local transportation authority to project costs or debt service on revenue bonds issued by the district or the local transportation authority pursuant to sections 238.200 to 238.275.

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(L. 1990 S.B. 479 & 649 § 46, A.L. 1997 S.B. 303)