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Effective 07 May 1998, see footnote bottom

  VI Section 26(b).  Limitation on indebtedness of local government authorized by popular vote. — Any county, city, incorporated town or village or other political corporation or subdivision of the state, by vote of the qualified electors thereof voting thereon, may become indebted in an amount not to exceed five percent of the value of taxable tangible property therein as shown by the last completed assessment for state or county purposes, except that a school district by a vote of the qualified electors voting thereon may become indebted in an amount not to exceed fifteen percent of the value of such taxable tangible property.  For elections referred to in this section the vote required shall be four-sevenths at the general municipal election day, primary or general elections and two-thirds at all other elections.

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Source: Const. of 1875, Art. X, § 12 (Adopted November 2, 1920) (Amended August 2, 1988) (Amended April 7, 1998).

(1952) Where principal and interest on city bonds issued under §§ 250.010 to 250.250 for extension and improvement of combined waterworks and sewerage system are payable solely from revenue derived from such combined system, such bonds do not constitute a general municipal indebtedness under § 26, Art. VI of the Constitution. City of Maryville v. Cushman, 363 Mo. 87, 249 S.W.2d 347.

(1952) Where at time of election on proposed bond issue by school district, such issue would exceed constitutional limit, such bonds were invalid, notwithstanding such issue would not exceed the limit at time bonds were issued and sold. State ex rel. Consolidated District C-4 v. Holmes, 362 Mo. 1018, 245 S.W.2d 882.

(1958) Contract of employment with defendant city whereby plaintiff was to make preliminary investigations, plans and supervise construction of proposed sewer improvements was held contrary to public policy and ultra vires where both parties realized necessity of approval by voters of city of bond issues to secure funds for the improvements and voters subsequently failed to approve bond issues. Shikles v. City of Clinton (A.), 319 S.W.2d 9.

(1971) Proposed issue of debentures by hospital district which imposed an absolute and unconstitutional obligation on district to repay without vote of people in district was invalid. New Liberty Medical & Hosp. Corp. v. E.F. Hutton & Co. (Mo.), 474 S.W.2d 1.


< end of effective 07 May 1998 >

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